I would take Faried.
Is he overpaid? Probably. Certainly less so once the cap goes up, but I also think that kind of player will never be dead money. He may always be overpaid, but he's not going to be a guy you can't play. He works so hard, and he plays so hard that his contract doesn't turn me off as much as it could.
He's not a good defender, but he doesn't have to be a bad one. He has the athleticism and motor to defend certain scenarios effectively, and he and Cousins would absolutely destroy teams on the glass.
He'll also run in transition on both offense and defense, which is not a strength of Couisns'. Not a knock on DeMarcus, I don't necessarily want him expending too much energy in those situations, anyway.
I don't know if I view Faried as a long-term PF solution, but I do think he's an upgrade. He's a different look. It's an option worth exploring, that's all.