Memphis GM Gerald Wallace took a lot of heat for trading Pau Gasol to the Lakers. But if we’ve learned anything in the past few days, it’s that Wallace was simply a man ahead of his time.

On Tuesday, we learned that the Bucks agreed to trade Richard Jefferson to the Spurs for Bruce Bowen, Kurt Thomas and Amir Johnson. (Fabricio Oberto was part of the original deal, but San Antonio sent him to Detroit for Johnson, who was then sent to Milwaukee.)

Regular readers know I’m a Bucks fan, and I spent the last couple of days grumbling on the Sports Bubbler message boards about how we didn’t get anything in return for Jefferson, who is still a pretty good player. When Wallace traded away Gasol, at least he got Javaris Crittenton (who was considered a prospect with upside at the time) and Pau’s brother, Marc, who turned out to be a productive center for the Grizzlies.

Then I wake up today to see that the Cavs and Suns have agreed to go through with that long-rumored trade that will send Shaq to Cleveland for salary cap relief. Who do the Suns get in return? A retiree (Ben Wallace), a bench player with a partially guaranteed contract (Sasha Pavlovic), some cash and a second round pick.

This is the going rate for a Third Team All-NBA center these days.

We knew that this summer had the potential to be a rough one for free agents, but it’s a little surprising to see that good players like O’Neal and Jefferson could be had for virtually nothing. Bucks owner Herb Kohl and Suns owner Robert Sarver realize that their clubs aren’t legitimate contenders, so they don’t see the point in paying the luxury tax just for the privilege of being knocked out in the first round of the playoffs. What kind of an effect these moves have on season ticket purchases remains to be seen.

The bottom line is that if a team is willing to spend, there has never been a better time to acquire talent. You’re not going to get someone like Caron Butler, who plays for a (pretend) contender and has a reasonable contract, but you can get Jefferson, who is overpaid and is on a mediocre team that is up against the luxury tax. And the older the player, the more likely he’s available. Teams aren’t going to give up good players that are in their early- or mid-twenties because the plan is to rebuild before they’re over the hill.

So who might be on the move for a bag of peanuts and some salary cap flexibility? How about Tracy McGrady, Baron Davis, Chris Kaman, Marcus Camby, Vince Carter, Tyson Chandler, Amare Stoudemire, Jermaine O’Neal, Michael Redd, Ray Allen or Rip Hamilton?

Truth be told, a team like the Suns isn’t going to give the youngish Stoudemire away for cap flexibility alone. But as the price of a star goes down, the price of superstar goes down as well.

It promises to be an interesting summer.

The trade deadline is Thursday, and trade talk is really heating up. Marc Stein gives us the latest.

Two rival executives we spoke with Sunday night immediately wondered whether the Suns’ decision to replace Terry Porter with Alvin Gentry would convince Phoenix to “tap the brakes,” as one put it, on its Stoudemire talks. If the Suns are going to try to recapture a semblance of what they had under Mike D’Antoni, with the only holdover from D’Antoni’s staff taking over, you can understand why Gentry would prefer to have Stoudemire for the rest of the season to help the cause.

Stoudemire is still under contract for another season, so it wouldn’t hurt the Suns if they wanted to see what Gentry could do with this group before moving their star player over the summer. I’d say that the Porter firing makes it more likely that Stoudemire stays put, though I’d still put the chances at better than 50/50 that Amare is moved before the trade deadline.

One source close to the situation maintains that the Suns have a standing offer from the Bulls for Stoudemire that would definitely deliver blossoming forward Tyrus Thomas and Drew Gooden’s $7.2 million expiring contract. The Suns like those two pieces. A lot.

Unclear is how much more Chicago would be willing to put into the deal.

Joakim Noah? Thabo Sefalosha? A first-round pick?

I mentioned to a buddy of mine that the Suns covet Thomas and his first reaction was, “Why?” Thomas has a rep for being a bit of a disappointment, especially with the way that LaMarcus Aldridge has blossomed in Portland. (The two were involved in a draft night trade back in 2006.)

But Thomas is playing well of late, averaging 15.6 points and 9.6 rebounds over the last nine games. Production-wise, he’s always done pretty well. His PER was 14.80 his first season, 14.91 in his second season and 15.47 this season. He’s just 22 and still has a lot of upside.

The conspiracy theorists among Joe Dumars’ front-office peers around the league will inevitably surmise that the Pistons might need the extra roster spot because they’re closing in on some sort of Stoudemire deal. The combination of Rasheed Wallace’s expiring contract and young forward Amir Johnson would appear to be Detroit’s best offer — and thus not quite in Chicago’s class — but there are a couple well-connected league insiders who believe that Dumars still has hope of winning the Amare Sweepstakes.

So the Suns would let Wallace’s contract expire and they’d ultimately keep Amir Johnson from this deal. The same Amir Johnson that is averaging 4.2 points and 4.4 rebounds in 17 minutes per game this season? Can’t the Suns do better than that?

The Kings could move to the top of the list if they were willing to part with rookie forward Jason Thompson, their two biggest expiring contracts (Bobby Jackson and Shelden Williams) and what will almost certainly be a top-five pick in June.

But the Kings aren’t willing. Not to part with all that. Not yet, anyway.

The 22 year-old Thompson is averaging 10.4 points and 6.8 rebounds per game and is having a fine rookie season for a bad team. The key to this deal is the draft pick, as it projects to be in the top five come June. However, I don’t think that the Suns would want to trade Stoudemire within the division.

Sources say Oklahoma City is going after New Orleans center Tyson Chandler, with the Hornets known to be seriously interested in slicing payroll and with the Thunder capable of offering the Hornets two replacement big men with expiring contracts (Joe Smith and Chris Wilcox) as well as one of its five first-round picks in the next two drafts.

You’d like to think that the Hornets would first try to get through this season, see how far they go in the postseason and then shop Chandler closer to the draft if moving him remains their best money-saving option, since trading their interior defensive anchor — in spite of Chandler’s struggles this season — would force us to reevaluate New Orleans’ status as a contender.

The Hornets are 30-20 and currently sitting in the sixth playoff spot in the West. But keep in mind that they are only 1 1/2 games out of fourth and five games out of second. It would be a shame if they broke up the core to slash payroll, especially when the Hornets have $10.6 million coming off the books this summer in the form of Antonio Daniels and Rasual Butler’s expiring contracts. Looking at their payroll, the Hornets shouldn’t have any problem keeping this group together and still stay under the luxury tax threshold.

The problem in New Orleans is not Chandler, it’s Peja Stojakovic, as I’ve been saying all along. The Hornets made a mistake trading for him, and now that they owe him another $29.5 million over the next two seasons, they’re paying the price. His contract is untradeable and his game is degrading. That’s not a good combination.

…but the latest in circulation could furnish Portland with a new small forward and a new point guard: [Richard] Jefferson and University of Oregon-ex Luke Ridnour in exchange for Travis Outlaw, Sergio Rodriguez and Raef LaFrentz’s expiring contract.

As a Bucks fan, I’d like to see Ridnour moved to clear the way for Ramon Sessions to take over at the point, though it might be better to make that switch this summer after Sessions has been signed to an affordable contract. If they move Ridnour and Sessions blows up, it’s only going to increase his asking price. I’m lukewarm on Jefferson, but if they can get out from under his contract (via LaFrentz’s expiring deal) and get a couple of nice young players in Outlaw and Rodriguez, I’d be all for it.

Why did Miami consent to completing the long-discussed deal swapping Shawn Marion for Jermaine O’Neal nearly a week before the deadline instead of waiting a few more days to see what happens with Stoudemire?

One source close to the process says that the Heat were informed from the start that they had no shot at completing a direct Amare deal with the Suns because Phoenix did not want to bring back Marion — even for less than half a season — after last February’s emotional parting … and because Phoenix isn’t especially high on [Michael] Beasley, either.

Intuitively, this makes sense. Miami realized that it could not acquire Stoudemire, so they did the next best thing and acquired O’Neal. On the other hand, I don’t know why the Suns aren’t interested in Beasley. You’d think that he’d be a nice piece to build around, and he’ll be cheap for the next few years, but the Suns are more interested in Tyrus Thomas. Go figure.

If this trade had happened a few years ago, it would have been a blockbuster.

The Toronto Raptors have agreed to send Jermaine O’Neal and Jamario Moon to the Miami Heat in exchange for Shawn Marion and Marcus Banks, league sources told ESPN The Magazine’s Ric Bucher.

The deal is pending league approval, according to sources, and if approved, would be announced later Friday afternoon.

Rumors about this deal broke a few weeks ago, but died down when all the Amare Stoudemire talk started.

The trade makes sense for both sides. The Jermaine O’Neal experiment was not working in Toronto, and by trading for Marion, they get out from underneath O’Neal’s giant contract, which runs one more year at the tune of $23 million. The Heat have been looking for a center since Shaq left, and O’Neal can be that guy. If he can post 18/10 and be a presence on the defensive end, the Heat will be a dangerous team come playoff time. The fact that his contract ends after next season still leaves Miami with plenty of cap room to sign another big name to go along with Dwyane Wade and Michael Beasley in the summer of 2010. The Heat were also able to unload Marcus Banks’ contract and they got a pretty good small forward (Moon) as part of the deal.

In Miami, Marion was not fitting in very well and his numbers were down across the board. Toronto likes to push the ball, so if Marion can get back to his old play, they might keep him around in the offseason (assuming he doesn’t ask for a contract that will break the bank). If not, Toronto will have about $13 million in cap space this summer.

1. Can we really expect an Amare Stoudemire trade in the next two weeks?

Sources say it’ll happen in-season only if the Suns can find a deal that delivers a mixture of top young talent and payroll relief. Which won’t be easy.

2. A deal for Toronto’s Jermaine O’Neal remains readily available to the Miami Heat. The Sacramento Kings likewise would still love to send Brad Miller to Miami for Shawn Marion as long as they don’t have to take back Marcus Banks, too.

3. I’ve heard multiple rumblings in the past month that Washington has made rugged forward Caron Butler available. But our research disputes that.

4. Portland is naturally making calls to see what it can fetch with its LaFrentz chip, but it appears that there’s a much better chance that Kings swingman John Salmons will wind up with the Blazers — who have inquired about Salmons — than that Chicago’s Luol Deng will.

5. San Antonio’s desire to acquire one more big man (preferably a floor-stretching big man) to counter the Lakers and Boston is no secret.

Random thoughts…

I still can’t believe that the Suns are actually considering trading a former 1st Team All-NBA player in the middle of his prime, but apparently they are…Jermaine O’Neal torched the Lakers two nights ago and looked great doing so. If he joined the Heat, that would become a very interesting team to watch. The key is his staying healthy, however…The Wizards would be nuts to trade Butler away. He’s their best player and the cheapest of their big three…I don’t think I’d go after Salmons if I’m the Blazers unless they’re planning to start him. He doesn’t play well off the bench and given the team’s glut of wings, I don’t know that he’d be the best option in the starting lineup…I’d love to see what Rasheed Wallace could do in a Spurs uniform, but San Antonio doesn’t have any expiring contracts and the numbers just don’t work.