Childress is an idea whose time came, and went, and went, and went. He should have taken the RFA contract, played one more year in the ATL and hit the FA market. Instead he went to Europe.
He's got versatility and would be useful on a team that needs another wing/guard to fill up some minutes, but he's not elite by any means. Not sure why PHO thought signing him made sense. Don't expect him to get many minutes going forward:
A big rotation of Lopez, Frye, Gortat and Warrick, plus some small ball with Hill or Dudley at PF. Dudley and Hill at SF. Carter and Pietrus at SG. Hill and Drago at PG. Although Pietrus could be odd man out, there still is not a lot of minutes left.
Man PHO is still so messed up... they need to make another trade (still).