I would welcome Baby back at the right price, however, I just think he is gone. The only reason he came back last time was because the RFA status forced his hand. No one wanted to offer him a deal and have it matched. This time however, he is free to walk, and he will go somewhere else, where he feels he can get more of the spotlight.
I do hope we can sign and trade him though, and get someone back for him.
As far as a replacement, the obvious guys (Landry and Humphries) will likely be out of our price range. However, I think they would be just fine if they went after Chuck Hayes, Craig Smith, or Reggie Evans. They are all really good hustle players who can play a little defense and pound the boards, and who could likely be had for something around the LLE (or maybe use Marquis Daniels' trade exception).
The C's would be losing some offense, but hopefully they can find that elsewhere (if Green is still on the roster, they need him to give them much more).