I think people underestimate how valuable draft picks can be. For starters, they are on dirt cheap, long term contracts. It's very easy for a player on a rookie deal to outperform his contract thus making his value a plus. However, when you have vets like Landry who are earning 6.75 mil a year, there's a very low probability that he outplays his contract and a much higher probability that he will underplay his contract.
As a small market team, you typically don't see a team with more than 3 double digit contracts ($10 mil+ per year). If Cousins and Gay represent two of them, that leaves room for one more. Whether you like it or not, we're not going to be signing a SG to a big contract, as it would be a waste of McLemore's contract and potential. So that either leaves signing a floor general at PG or a defensive anchor at PF. Well the good news is that we could probably find either one with our draft pick. Exum/Smart as a floor general and Embiid/Vonleh/Cauley-Stein as a defensive anchor. By trading the pick away for Sanders (a defensive anchor who would be our third double digit contract), you force us to try and find a floor general on a cheap deal in free agency. Good luck with that.
I think keeping the pick would be the smartest thing for this franchise going forward. Let's say we draft Exum with our pick. Well we have our future floor general on a cheap rookie deal. We have our 3 and D (hopefully he becomes a 3 and D) athletic SG on a cheap rookie deal. We have our #2 option SF locked up on a big deal. We are still missing our rim protecting PF. And we have our #1 option C locked up on a big deal. In 2015, we are set to have 25 mil in cap room. That should give us plenty of cap space to find our defensive anchor. D. Jordan, T. Chandler, Asik, M. Gasol, R. Lopez, and T. Thompson are all up for new contracts in that year.
Let's say we draft Vonleh with our pick to fill in as that rim protecting PF of the future. We will have all of our pieces in place except for our floor general at PG. Again in 2015 when we will have substantial cap room, Rondo, Rubio, Dragic, & Lin are all possible options to fill that void.
So we could either end up with a team that looks like this...
PG - Exum
SG - McLemore
SF - Gay
PF - D. Jordan
C - Cousins
or looks like this...
PG - Rondo
SG - McLemore
SF - Gay
PF - Vonleh
C - Cousins
This is why I'm really for keeping draft picks and players on rookie deals. It gives you much more flexibility and you can net some pretty high return on investments. OKC is a prime example. They have their two stars and rim protector locked up on big, long term deals, and then they have a plethora of rookie contract players that contribute and fill around the stars (Jackson, Lamb, Jones, Roberson, and Adams - and they will add two more 2014 1st round picks next year). Their team is setup to be competitive for a long, long time. I would love the Kings to mirror them so we don't have to go through these decade droughts of not reaching the playoffs. The key for small market teams is to never overpay your roleplayers (unfortunately, the new ownership's first signing was just that), and when most of your roleplayers are on rookie deals, you don't have to worry about it.