1. Obviously the threat that he might sign an extension with NJ (or Denver) is hard to tell. That is kind of a big wild card. I'm kind of assuming the threat was real enough. 2. Consider that Chandler would be renounced to sign Melo, so that means nothing. Felton for Billups is close enough. Then they gave up Gallo who's best position is SF, which Melo plays. Mosgov is no big deal. The 2014 pick sucks in the context that the Knicks have given up so many picks, but just considering it in this deal, is not of huge value. Anthony Randolph was out of the rotation, so they haven't lost anything there. Curry is obviously filler. 3. Obviously depth is shot. They got some other players back though, including Brewer from Minnesota (which wasn't in initial reports). If they really want to they will only need to run 7-8 in the playoffs. As I've stated before though, they can rebuild that depth in FA. 4. Having no picks is bad, but that reality isn't because of this deal.