I think if KG and Pierce retire we can get Smith for under a max salary ($15 MM maybe?). My problem with that is if we add him I see us being a late playoff seed like Atlanta for a while. I probably wouldn't go after him unless we can clear more cap space to sign someone else (Pekovic please!) by shedding the salaries of Terry, Bass and potentially Lee.
Even though with just KG and Pierce retiring we only have about $10 MM in cap space (assuming we don't have to pay any of Pierce's guaranteed money via amnesty), if we could trade Bass and Terry to a team with a trade exception/a team under the cap we could clear another $11 MM. Then maybe we give up Courtney Lee to Minnesota as part of a sign and trade to get Pekovic.
In other words to sign one elite player and another very good player we would have to part with Bass, Terry and Lee (and that is assuming other teams would allow us to shed their salaries).
Here is another though because we obviously need a center (if KG retires), how much money would you guys give to Bynum? I would sign him to a one year max offer if he appeared to be healthy and go from there. If he is healthy we could compete, if not then we probably wouldn't be good and would get a high draft pick in a stacked year.