I agree with you here...Yes, if you think the Warriors and Clippers are still serious players and you think that the damage done by a Rondo for Howard rumor would be worse than what's already been done by the Rondo for Paul rumors, then this might prove to be counterproductive.
I guess I'm posing that that is not the case, and if not, what strategy is there? Where does Boston get more leverage than they have now? The Hornets should be the most desperate team involved, yet they are playing things perfectly so far. They have maintained a high trade value for Chris Paul and appear willing to hold on to him despite the inevitability that he will be moved (he must be moved!).
It may not be as simple as a "who blinks first" scenario, but it certainly is about leverage and maintaining asset value. Right now Rondo is, if you are to believe the rumors, a slightly undervalued asset because it appears the Celtics are so eager to deal him (despite there being less of a need for the Celtics to deal Rondo, than the Hornets to deal Paul). How do they get that value back?
The only options I see are to pull back from discussions (and risk missing out by not being involved), or start exploring other trade possibilities (yes, also risky).
I guess there would be a third option, that would be continually increasing your offer, so that the overall value of your trade package increases, while the individual pieces remain low. But there is obviously a limit to this strategy as well, especially for the Celtics.