Overall, I'm pretty happy. Sure, theoretically it's nice to think that we could've traded Rasheed, however, I'd contend a number of things:
1) The market for Sheed wasn't what most people thought it was. His salary was really only appealing to team's looking to dump long term contracts, something Danny wanted no part of. Danny only wanted deals expiring two years from now. And given that the lockout may mean that teams don't have to pay player in 2011-2012 anyway, Rasheed didn't offer much savings.
Furthermore, even if the league would've let us hold onto him (something I think they would've stopped over the 5+ months until the trade deadline), his value would go down as he'd progressively save teams less money the longer he stayed on our books (and the more the potential trade partner had to pay the player we'd get).
2) Almost every rumored deal was impossible from a cap standpoint or not conducive to use or the other team. I mean Rudy Fernandez sounded nice, but why would Portland not only give us him for Sheed and a pick, but also throw in another useful player like Pryzbilla? Why would the Rockets, a team looking to contend, simply give away one of the best perimeter defenders in the game? Why would the Wiz, looking to at least convince potential ticketbuyers that they can contend for the 8th spot in the East with Wall and Co, give away Josh Howard?
3) Aside from all of that, had you told me that we could've traded Sheed to Cleveland for Shaq and West, I would've been satisfied, so I'll remain satisfied now.
Would I have liked a real small forward? Sure. I just don't know where we would've gotten one. I supposed in a perfect world irrespective of money I would've liked to see Danny trade Sheed for Posey; however, I can't fault him for not wanting to take a 12 million dollar gamble on a player whose game is in decline.