From the viewpoint of somebody who selected Devin Harris in the latest Pick Two draft, I had reason to do some research on him. In general, I feel like he's being vastly underrated in this thread.
First of all, when he decides to attack the rim he's a problem for a defense. He's great at drawing contact, and he'll go through stretches where he either gets layups or gets fouled. He's very tough on a defense when he plays like that.
He's a decent shooter inside of about 16 feet, but you don't want him taking long two-point jumpshots (and he takes too many of these). He's not terrible out beyond the arc, but at .322 this last season he's slightly below average.
The part I don't understand is that people here are calling him a poor passer and a score-first guard. Don't let one year fool you. He's a pass-first guard (less than 12 shots per game as the primary ballhandler), and he's actually an above average passer at the PG position. He's not Rondo, but he's not as huge of a dropoff as many seem to believe.
He's an enigma on defense, very good when he puts the effort in... but therein lies the problem. He exerted zero effort on this side of the ball in New Jersey.
I view him as a large risk. The Devin Harris of the last few years is simply an average guard who only plays when he feels like it and seems to lack the desire to be an elite point guard. Having said that, he does have an extra gear, and if he uses this extra gear consistently he can be well above average, even borderline elite.
As far as the trade goes, I'm undecided. Despite what I just said about Harris, I'd try to get Favors instead, with an eye on using the pick to get Brandon Knight, who I like. If I was sure that I'd be drafting Derrick Williams I'd do the trade as suggested, but I have little interest in Kanter and with Harris there's no need to draft another PG.