Pick the best player available... explore trading Rondo... tank/develop and figure it out later.
I'm coming around to this view as well. We'll have another good draft pick of our own in what I think is supposed to be another good draft, and those BKN picks could become quite valuable. Who knows, maybe by this time next year Indy will have imploded completely and we will be able to trade for George. Not saying I think that's likely - I'm just saying you don't know, and patience is sometimes a virtue.
Not in favor of giving Rondo away though. If we can get a bona fide budding star I can see it, but otherwise I'd say hang on to him. As long as he has the right (i.e. wrong) kind of players surrounding him, he's not going to propel us into mediocrity all by himself. I think we learned that this year.
The big downside of course is suffering through another year of awful basketball and moves clearly intended to make us worse now (e.g., Courtney Lee). But I'd prefer to wait until we have a good chance at a top 10 player before starting to really cash in all of our chips.