Would the Cavs trade Waiters, Thompson and Haywood's gnarley unguaranteed for Hibbert?
I think they would.
Waiters, Thompson, Haywood, and a minimum contract like Joe Harris (or Delladova) would work. Cavs allow Lebron to keep sideshow and add a huge defensive anchor.
Irving/Dellavedova/Price
Allen/Miller
James/Jones
Love/Matrix/Admundson
Hibbert/Varejo/Kirk
Cavs sign Allen and end up with one hell of a squad there. Pacers get a couple young potentials in their Paul Georgeless year plus a nice bit of cap room for when he returns.