Couple thoughts:
1. Terry is a long shot, and probably a "in case we lose Ray" option at that (maybe even a "put some pressure on Ray to sign sooner" option.")
2. I think Ray is probably 50/50 - sure trust is broken, but if they give him more money than anyone else, with a player option, its basically a no-trade clause. 12m/2yr, second year player option with a buyout (like Pierce's final year.) Also Ray healthy was fine as a starter last year, situation is reversed to start season Ray = Healthy, AB != Healthy, so Ray will probably start.
3. I'm fine trading AB if teams value him about where he was at start of season. Yes he has some Tony Allen with better offense potential, but he is also shorter/slighter which will put more pressure on him playing at PG or having a bigger guy who can handle the ball. Also the shoulders are a big red flag. (Does anyone know what he had done? Was it a SLAP repair?) If you can S&T Bass and AB for Smith - you do it 100 times out of 100 IMO. Trading AB would also make signing both Terry and Allen a reasonable idea.)
4. If AB and Ray are back and healthy, I still think we're better off going Rondo, Ray, Green starting, AB & Pierce off bench. Pierce's ball handling covers for Rondo when Rondo is out and AB is at PG. Green can run and finish on break and offers versatility off the ball for Rondo to take advantage of in the half court. (And Green will be a liability when Rondo isn't there to setup his offense.)