I think you're greatly over-estimating the value of Ray's expiring contract.
There's no way that Houston entertains that offer, nor would Minnesota. It's very doubtful that Sacramento would, either, especially with Hawes included.
New Orleans might, since Okafor isn't that good and Posey is playing poorly there. I'm skeptical that Golden State would move their players in a straight dump, but they could.
Jeez, Roy. You must have missed Posey getting hugs all around for making the game winning play last night? The NO hypothetical is probably the most available scenario. It could be the proverbial trade that helps both teams. We could get our defensive identity back!!!
I have no idea why Minnesota does that deal either, but Kahn was a knucklehead over the summer, and maybe he's dumb enough to keep trying to erase everything McHale did there. He might also realize that the triangle is a one-post offense, and keep Love. But really, I just like those players as a fan and want them back.
Sacramento: only if their financial back was against the wall. It might be. I wouldn't hold my breath for Hawes, though.
Houston: This would be an 11th hour deadline deal, once they realize that, as spunky as they are, they're still going nowhere. With no state income taxes in Texas, warm weather, and already having T-Mac expire, they could be movers this summer. If Yao is done, they might blow it up and trade role players, which Battier and Ariza are, for a chance at stars. So...it's possible, if unlikely, but all trades are unlikely.
Sometimes, I really can't figure why GM's do what they do. But I think we forget how we got Ray in the first place. The Sonics could have kept Ray, Rashard Lewis, and Kevin Durant, and been a very, very good team (they had a stable of hustling bigs and good journeyman PG's), but instead chose to start over. These trades may be unlikely, but so was getting him in the first place. With financial problems and the FA's in play this summer, someone might make that Godfather deal, with some picks and window dressing to pretty it up. We would be wise to listen.