With the chase of and eventual signing of C. Lee, numerous comparisons have been made between he and Ray....Ray went to the Heat, so we chased Lee (and perhaps Mayo), and luckily wound up with Lee....so the comparisons were naturally made between what could have been (Ray) with what it will be (Lee).
I actually think Danny had a pretty strong sense that Ray was gone...if not to Miami for less $, then somewhere else. He probably knew Ray was unhappy about the trade attempts, and therefore went after JET early...very early as I remember, at 12:01 on the first day of FA talks.
What do we lose with Ray? A lot, but in my mind primarily a guy who can shoot the 3 from anywhere. The corner 3 and non-corner 3 are vastly different in terms of distance, and a lot of guys who can hit from the corner can't hit beyond the arc that well outside the corner. On last year's team, only Ray and Paul could do that with consistency, whereas Bradley was mainly a corner 3 shooter, and no one else (including MP) hit 3s with any reasonable consistency. Green can hit the corner 3, but not at farther range...and the same with Lee.
But, Terry can...he can hit from deep, not just the corner (link). I think DA worried that being only left with Paul as a universal 3 point shooter would lead to an offensive hole, and that he believed Terry was the next best alternative to Ray. So that was priority #1. Getting Lee was adding another offensive threat, and deepening the bench, not so much to replace Ray, but to make sure Paul and other starters could get fewer minutes/games off...because the real name of the game is to be healthy in the playoffs, as last season again proved.
Just my 2 cents...
http://www.basketball-reference.com/play-index/plus/shooting.cgi?player_id=terryja01&year_id=2012