I'm not going to try and bring a slew of All-stars to the Pacers for our expiring contracts and young pieces.  I'm just going to put some scenarios out there that make sense.  Provide your input and maybe propose some deals of your own.

Indiana Pacers and New Orleans Hornets

http://games.espn.go.com/nba/tradeMachine?tradeId=26guhbo

I know that Emeka Okafor has a bad contract, but in all honesty, the Pacers aren't going to draw any big name free agents next summer, so if we can pick up a pretty solid big man who can teach Roy Hibbert, Tyler Hansbrough, and Magnum Rolle, I say it's worth it -- since we'll just overpay someone next summer anyway.  Oh, and we also get a pretty solid point guard.  And New Orleans gets Emeka's contract off the books and some help at the wing.

http://games.espn.go.com/nba/tradeMachine?tradeId=2d9bv26

Again, we take back Okafor's contract, and I would try and explain why accepting his deal isn't absolutely terrible as I explained above.  This time we give them a back-up point guard to Paul, since losing Collison would leave them with essentially one PG.  They also get help down low in Foster, and he has an expiring contract.  You could sub in Posey and his 2 year deal with some other pieces instead of Okafor, but I feel like I would rather take back Okafor to complement Hibbert, despite his contract.

Indiana Pacers and the Cleveland Cavaliers

http://games.espn.go.com/nba/tradeMachine?tradeId=2egruhw

This time, we take back a longer contract with Varejao.  Like Okafor above, I really don't mind making this move because we will overpay some free agent this summer of an equal or lower caliber, anyway.  Varejao could complement Hibbert much better than Murphy, and with the post-Lebron Cavs, they could be looking to shed Varejao's contract, and this would give J.J. Hickson more playing time.  Add to that, the Cavs need help on the wing and their best center on contract is Ryan Hollins.  Foster and Dahntay Jones could help there.

http://games.espn.go.com/nba/tradeMachine?tradeId=2ew6ehl

Subbed Rush in for Dahntay Jones here.  While I feel Pacer fans would be more hesitant to make this deal with Rush, ESPN trade machine actually claims the Cavs would be worse taking back rush than Jones.  Interesting.  Another reason that these deals could be attractive for the Pacers (Emeka and Anderson) despite the longer contracts is not just they could mentor younger players, but also open the Pacers up to trading Murphy off, since Bird worries about our depth at PF.