Resign Big Baby.
Boston trades: Rondo, J. Green, Baby, LAC first round pick
NO trades: Chris Paul, Ariza
I think Ariza is a much better player if coming off the bench in a role similar to what he played for LAL. That's what he'd be in Boston and I think far more effective than he had been in Houston and NO.
p.s. This would only have us up to $40M committed in '12 with CP3, Ariza, Pierce, Bradley signed. If the hard cap went up to $62M as reported, I think Dwight could be willing to sign for a deal starting at $14 or 15M (like the heatles did) if Ray and KG were on board to come back on small deals.