I would love it if Cleveland made that series of trades. They'd squander their cap space for next year, and still wouldn't have a legitimate second option. They'd possibly be a better overall team, but I just don't think it'd be enough to make them a powerhouse, and this is the team - no legit second option, supporting cast that's already peaked, tons of salary commitments for the future - they're stuck with for the next few years.
The Shaq trade also works as far as I'm concerned, for all parties. Cleveland gets to "do something" to try to improve the team now to keep Lebron happy, but still have tons of cap space next year to bring in an All Star like Bosh or Amare. But adding Shaq while losing Wallace, Pavlovic, plus Wally and Varejao (because, to protect their cap space for next year, they can't resign Varejao long term) does not really improve their team a ton in my opinion. I don't think they're good enough to beat us next year, so we get a better shot. Of course, in 2 years, we might be looking at a Cleveland core of Lebron, Bosh and Mo Williams, which would be quite difficult to deal with. But we've got 2009-10 to win another title and then decide the future.
The Cavs' tough situation this summer - take a ton of chances now to keep Lebron happy, hurting flexibility for next year, or not doing much and going for broke in 2010 - is a big reason why I think the Celtics should just put everything into winning it all this year. If Cleveland adds a superstar to Lebron in 2010, it's gonna become harder and harder to beat them for several years. I'd spend what I could now to win now, and not worry about rebuilding because Lebron with another All Star and Mo as a third option will make it difficult to win anyway from 2011-14 or so.