I like Ilyasova a lot. However if KG re-signs for a number in the $10MM range and Bass doesn't opt out, then you couldn't bid high enough to get Ilyasova from the Bucks who are expected to match up to $10MM. If Bass does opt out, you could bid more than $10 Million for Ilyasova, but you won't have much left to fill out the roster with rotation players vs scrubs, rookies and sophs. Playing around with the numbers it looks like a 7 man rotation, 2 sophs, 2-3 rookies, 3-4 scrubs (Stiemsma/Hollins/Daniels types) Doesn't smell like a team as good as this year's.
You're still better off bringing back everybody including Ray, Green, Dooling, Pietrus, Bass, and Wilcox to add to the 2 sophs and 2 first rounders. That option depends on KG of course, and if KG doesn't come back, it doesn't make sense to sign Ilyasova anyhow as we would need to rebuild (tank) instead.