I'm not sure I see him Smith would be a good fit next to Rondo?
To answer the original question, yes, I would. Trade Rondo for Monroe and Mclemore (would order Straukaus) but I would a cod that deal. There is no chance it happens, but I would do it if it came up.
I would probably even trade Rondo, Wallace and Thornton to New York for Hardaway Jr, Shumpert and Amare's expiring.
I have hope that we will be a great team over the next couple of seasons, but I'm not sure it's happening. To me it makes sense to grab some more talent, clear cap space and then move forward with a new look team. I don't think many here would support this option though.