Trade won't work, but if it did, I would do it. Hill is not part of the future anyway. We get out of his contract a year earlier, free up a roster space in summer, and bring more stability to the roster.
Love IT, and feel bad for him. Got hurt and traded before he was eligible for his big payday, and with the market shrinking, and his reputation taking a hit, he might get lowballed. We are clearly going forward with Fox at 1, and IT is too good and expensive to play backup anymore.
That said, I doubt the Cavs trade him. If Bron leaves next year (not a certainty I think. Which team has the cap to offer him the max, and still put a contender around him), IT along with the Nets pick (and probably Love) could be a valuable piece to build around.