This is the second of five installments of my position-by-position rankings, where I consider the four major factors that affect a player’s total value: talent (statistical performance), affordability, age and potential. To see a more detailed explanation of my approach, give my point guard rankings a gander.

To summarize a player’s stats, I’ll use the NBA Efficiency statistic, which is defined as:

EFF = ((Points + Rebounds + Assists + Steals + Blocks) – ((Field Goals Att. – Field Goals Made) + (Free Throws Att. – Free Throws Made) + Turnovers))

Essentially, the order of this list depends on the answer to the question – would you trade Player X for Player Y, assuming the goal is to win a title in the next three seasons, while also building a strong franchise for years to come?

On with the rankings…

1. Kobe Bryant, Lakers
Age: 29
EPG: 26.8
Contract: three years, $69.1 M ($23.0 M per)
His salary is astronomical, which makes it difficult to rank him ahead of the almost-as-effective-for-half-the-price Manu Ginobili, but Kobe is probably the league’s best one-on-one player and is the only guy who can match Manu’s fire and competitiveness.

2. Manu Ginobili, Spurs
Age: 30
EPG: 19.9
Contract: two years, $20.6 M ($10.3 M per)
Ginobili should still be effective for the next three years, so his very reasonable contract makes him a reasonably close second to Kobe. His game has no holes and he is one of the best players in the league in the clutch.

3. Brandon Roy, Blazers
Age: 23
EPG: 19.4
Contract: three years, $12.2 M ($4.1 M per)
Who would you rather have – Roy for $4.1 million per season or Dwyane Wade for $15.8 million? I’d take Roy and spend the difference elsewhere. He’s a terrific combo guard that has helped to bring the Blazers back to respectability.

4. Dwyane Wade, Heat
Age: 26
EPG: 21.8
Contract: three years, $47.3 M ($15.8 M per)
Wade is extremely difficult to guard and he almost single handedly beat the Mavericks in the ’06 Finals. He has been bothered by a series of nagging injuries, which makes one wonder if his future is as bright as it once was.

5. Kevin Martin, Kings
Age: 25
EPG: 19.8
Contract: five years, $55.5 M ($11.1 M per)
It looks like the Kings got a pretty good deal when they locked Martin up. He’s a terrific shooter and he should be able to anchor the Kings offensively for the remainder of his contract.

6. Andre Iguodala, Sixers
Age: 24
EPG: 20.1
Contract: restricted free agent
Iguodala is a poor man’s Wade, and has the numbers to prove it. But is he just another player who can put up good numbers on a bad team? It’s going to be interesting to see how much the Sixers end up paying him. I expect it will be more than what Martin makes, which is why he’s below him on this list.

7. Richard Hamilton, Pistons
Age: 30
EPG: 16.4
Contract: two years, $22.0 M ($11.0 M per)
Rip just keeps chugging along. The guy has always been a terrific midrange shooter, but over the last three years he’s improved his accuracy from long range (44% in 2007-08), which has made his offensive game even more dangerous. He’s a tireless defender and has a great work ethic, so his game shouldn’t decline as fast as usual. Moreover, he’s affordable.

8. Joe Johnson, Hawks
Age: 26
EPG: 19.6
Contract: two years, $29.2 M ($14.6 M per)
Johnson had a couple of nice games in the playoffs, but he’d still look a whole lot better in a Suns uniform right now. Still, he’s a young, virtual player who is just hitting his prime, and he doesn’t have any glaring holes in his game.

9. Mike Miller, Grizzlies
Age: 28
EPG: 18.1
Contract: two years, $18.8 M ($9.4 M per)
Miller’s contract is very affordable considering his production. He’s one of the best pure shooters in the league and has a pretty solid all-around game.

10. Jason Richardson, Bobcats
Age: 27
EPG: 19.0
Contract: three years, $39.9 M ($13.3 M per)
His contract is little on the pricey side, but J-Rich returned to form this season to anchor the Bobcats offensively.

11. Stephen Jackson, Warriors
Age: 30
EPG: 17.0
Contract: two years, $14.8 M ($7.4 M)
Jackson’s surly rep has him seriously underrated. His contract is a bargain for what he brings to the table, but he’s on the wrong side of 30.

12. Michael Redd, Bucks
Age: 28
EPG: 18.4
Contract: three years, $51.1 M ($17.0 M per)
After seven straight seasons of improving his game, Redd took a step back last season. Improving his shot selection will be key as he tries to earn that big contract.

13. Tracy McGrady, Rockets
Age: 28
EPG: 18.8
Contract: two years, $44.3 M ($22.2 M per)
I think it’s clear that you can’t build around T-Mac (and his huge salary) and expect to win in the playoffs. However, he is still one of the most dangerous shooting guards in the game, even though he has a creaky back.

14. Randy Foye, Timberwolves
Age: 24
EPG: 11.8
Contract: three years, $11.2 M ($3.7 M per)
Foye bounced back from a knee injury to have a pretty solid season for the new look Timberwolves. He has a solid all-around game and nice upside.

15. Vince Carter, Nets
Age: 31
EPG: 21.6
Contract: three years, $48.8 M ($16.3 M per)
Carter is getting on in years and since he relies on his athleticism, age may hurt him more than most. Also, his contract is long and expensive for a guy his age.

16. Ronnie Brewer, Jazz
Age: 23
EPG: 13.3
Contract: three years, $8.3 M ($2.8 M per)
If he can ever fix that busted jump shot, watch out. Brewer has all the other tools to be an excellent player.

17. Ben Gordon, Bulls
Age: 25
EPG: 14.8
Contract: restricted free agent
Gordon’s contract situation makes him tough to rank. He’s a phenomenal scorer, but is only average in other parts of the game. He turned down an extension that would have paid him $10 million a season, so if he signs a deal like that, he’ll be pricey for what he brings to the table.

18. Ray Allen, Celtics
Age: 32
EPG: 15.9
Contract: two years, $36.2 M ($18.1 M per)
Allen is an NBA great whose star is fading fast. Even if he improves on his sketchy play in the postseason, his contract is tough to swallow.

19. Jamal Crawford, Knicks
Age: 28
EPG: 16.1
Contract: one year, $8.6 M
Crawford needs to improve his shot selection, but there’s no doubt that the guy can score. He’s actually a nice fit as an off guard in Mike D’Antoni’s up-tempo attack, so the 2008-09 season will go a long way to determine the direction his career is headed.

20. Anthony Parker, Raptors
Age: 32
EPG: 13.5
Contract: one year, $4.6 M
The only problem with Parker’s all around game is his age. He’s a terrific shooter and is happy to do all the little things.

21. John Salmons, Kings
Age: 28
EPG: 12.9
Contract: three years, $16.4 M ($5.5 M per)
Salmons is a versatile guy who can play three positions. He’s in his prime and his contract is very affordable.

22. Rashad McCants, Timberwolves
Age: 23
EPG: 11.3
Contract: two years, $6.2 M ($3.1 M per)
Injuries limited his sophomore season, but McCants came back and averaged almost 15 points a game for the Timberwolves. He doesn’t do much else, but the guy can certainly shoot it.

23. Nick Young, Wizards
Age: 22
EPG: 5.2
Contract: four years, $9.6 M ($2.4 M per)
Young is an athletic prospect who proved in his rookie season that he can shoot the ball from long range.

24. J.R. Smith, Nuggets
Age: 22
EPG: 9.8
Contract: restricted free agent
Smith has a rep for having a bad attitude, but there’s no doubt that the guy can score. For the limited minutes he played, he was more efficient than Joe Johnson, Jason Richardson and Michael Redd.

25. Kyle Lowry, Grizzlies
Age: 22
EPG: 10.7
Contract: three years, $6.2 M ($2.1 M per)
Lowry is caught in a backcourt logjam with Mike Miller, Mike Conley, Juan Carlos Navarro and Javaris Crittenton. I should probably have him in with the point guards, but that ship has sailed (at least for this year). Still, Lowry is a reasonably productive player and is still a nice prospect.

26. DeShawn Stevenson, Wizards
Age: 27
EPG: 10.7
Contract: three years, $11.6 M ($3.9 M per)
Known more for silly feuds with LeBron than his own game, Stevenson is a nice defender and a decent three-point shooter. But why did his FG% plunge from 46% last season to 39% this season?

27. Daniel Gibson, Cavs
Age: 22
EPG: 10.3
Contract: free agent
Has Boobie’s rep surpassed his true ability? For a guy who gets over 30 minutes a game, his line is pretty thin (2.3 rebounds, 2.5 assists), but that might have to do more with LeBron than Boobie’s versatility. One thing’s for sure, the guy can shoot it from long range (44%).

28. Kelenna Azubuike, Warriors
Age: 24
EPG: 9.1
Contract: restricted free agent
Azubuike and Mickael Pietrus are very similar players, but it was Azubuike who got more run late in the season. He rebounds well from the guard position and is a decent three-point shooter.

29. Mickael Pietrus, Warriors
Age: 26
EPG: 8.7
Contract: free agent
Pietrus is an athletic, versatile wing who fell out of Don Nelson’s favor and was limited by a strained hamstring. His stock is low enough that he’ll likely be a good bargain for whichever team manages to sign him.

30. Raja Bell, Suns
Age: 31
EPG: 12.0
Contract: two years, $10.3 M ($5.2 M per)
Bell is getting on in years, but he can still defend and shoot the three.

Youngsters with potential: Sasha Vujacic, Lakers; Thabo Sefolosha, Bulls; Willie Green, Sixers; Martell Webster, Blazers

Fading vets: Maurice Evans, Magic; Cuttino Mobley, Clippers; Bonzi Wells, Hornets; Morris Peterson, Hornets; Ricky Davis, Heat; Larry Hughes, Bulls; Marko Jaric, Timberwolves