The Magic have Dwight Howard who they are looking to send off (for some odd reason) And I am sure that the Hornets would love to take Chauncy Bullips and few handful of backups like they were planing to do with the Lakers. But hey, I don't have a career in the NBA for some reason.
1. Magic aren't trading Howard to the Hornets. Paul won't sign with the Magic long term which would be a waste of Dwight Howard. The Magic want young players they can keep around and draft picks. Same as New Orleans. Howard wouldn't resign long term with New Orleans so again the trade would be a waste of Chris Paul.
2. Billups got amnestied so he's a free agent. You look at the Knicks roster, they have no trade pieces. Carmelo's not going anywhere obviously, the only possible trading piece would be Amare, but that would only be one piece, and a piece that has had injury issues. Not only that but it would be one step forward and one step back for the Knicks. They're better off waiting for next year when there are a number of potential big name free agents floating they can sign without giving anything up. Otherwise the Knicks don't have any draft picks worth trading considering Isiah has nearly traded them all off. Even if they did have some to trade, they aren't guaranteed unprotected lottery picks considering the Knicks are now good enough to make the playoffs every year now.
All that, and we're not even talking about the salary cap yet.
Now take a look at what the Clippers were offering:
A $12 million expiring contract that opens up a lot of cap space and/or trade bait. A 2012 first round pick that would have a great chance at ending up in the top 5 of the draft with a loaded draft class. A young player in Gordon who likely wouldn't be a shoo in All Star, but can develop in a quality starter. Aminu has youth and potential. The reason why the Clips dropped the trade was because there's no guarantee Paul would stay in LA, thus the Clippers wanting to retain Bledsoe, although I would rather hold on to Gordon then him.
The Lakers/Rockets/Hornets trade would have given the Hornets plenty of quality starters, essentially overhauling the team into something that compete right now. The problem is a number of those players are in their 30's so they're starting on the downhill of their careers. The Clippers deal was far better in regards to setting up New Orleans for the future.