The problem with the NY picks is that they'll be from 2011 or 2012. If NY's master plan works and they end up with LBJ, Wade, Bosh, whoever or a combination of them, the picks would end up being late 1st rounders.
In my mind the worst case scenario is that we keep McGrady. And even that situation could turn out well provided that Geoff doesn't overspend on a FA. And if we keep our payroll down we could facilitate trades next year.
The middling scenario would be to make the trade with NY. As you mentioned, it's a bit of a risk regarding NY's picks, and it's the picks in my opinion which would ultimately bear out whether it was a good trade. The Ron Artest trade was a massive success as we got both Donte and Casspi out of it.
But NY might not land any superstars. And if they don't, then you know any picks from there will turn out to be good.
And being the optimist, the best scenario would be to have a team other than the Knicks offer the Kings a better package. You'd imagine that all the teams which initially contacted the Rockets in regards to McGrady's contract will now be contacting the Kings to see if they can offer an attractive package. Geoff is going to be very, very busy and if we're lucky he'll put together a trade to continue to improve this team.