I proposed this in another thread somewhere, but we could trade Ray for Rip, Amir Johnson, McDyess (sign & trade), and Affallo.
That's basically half their team. But it would immediately improve our depth, and we'd be getting a legit starter at the 2. Obviously Rip is not as good as Ray right now. But he is younger, so his shelf life is a bit longer. Plus, his contract is sizeable enough that he could be used as a trade chip in another couple years when he's expiring. Afflalo is a defensive minded swing player, who would be an upgrade over Tony Allen. Amir Johnson would replace the Powe-Davis package off our bench. And McDyess would be the 6th man (possible starter, depending on injuries). Also, it would be much better to acquire Dyess in a trade. Because then we'd still be able to use our MLE on other players, rather than signing him as a free agent.
Looking around the league, Detroit has the right set of players that would fill our holes, while only negligibly downgrading our starting 5 by replacing Ray. Plus, we know they are motivated to make a trade for the simple sake of cutting salary.