If the trade offer was Allen for Mayo AND Conley plus Cunningham, I can't imagine that was ever given legitimate consideration by Memphis. They give away their only point guard and two of their three best bench players for a one year rental of a 36 year old shooting guard? No way. Just doesn't make any sense. If they're doing it to make a run at this year's title, it just doesn't make any sense to give away their point guard. So I doubt that was the offer being discussed.
I could, though, see the offer on the table being Mayo, Cunningham, Selby and a first rounder this year for Ray. Come playoff time, they have Conley and Arenas to handle all the minutes at the 1, TA and Ray to handle all the minutes at the 2, Gay and TA at the 3, Randolph, Gasol and Speights all the frontcourt minutes. Pondexter picks up spare minutes. At least it makes some sense for them, keeping their core group together but making a switch on the bench. And at $8.1 million v. $10, it gets under the 25% rule. And if they did it, they'd be over the luxury tax level, so they might not have dumped Sam Young, just paid the tax instead.
If that was the trade, I think Boston should have taken it both for the present and the future. Mayo takes a lot of Allen's minutes, but there's also a playing time boost for Bradley and Pietrus. Cunningham is an extra body who can give a few minutes at the 4 and the 3. I just don't see the team losing that much, if anything, this year. (Of course, we didn't know then that Bradley could be such a contributor.)
And for the future, they'd have an extra first round pick (so it becomes more feasible to combine two picks to move up 5-10 spots while still having another first rounder), Bird rights on a restricted free agent shooting guard who will be 24 when next season starts instead of an unrestricted free agent shooting guard who will be 37, and another 24 year old forward under contract at $2 mil a year for the next year or, if you take the option, 2. That would have been a no brainer trade to me and I'm a total sentimental sucker who would like to see all of the primary players from this run retire as Celtics.
I agree with the idea that the New Jersey trade wasn't actually gonna happen. New Jersey wanted Wallace and Portland was much more motivated to get rid of Wallace than Boston was to get rid of Pierce. I think that's dumb but seems to be the case. (Yes, Wallace is younger and cheaper than Pierce, but look at how much he's fallen off this year. And while younger than Pierce, he's not young, so his athleticism- and hustle-based game could drop off fairly quickly. It's possible Pierce has more effective years left in him than Wallace does.)