I think people need to get their minds around the fact that we're not going to be contenders for the next 2-3 years. Imo, we're treading water until 2014 where some big contracts come off the books and we can once again gamble in free agency (and my guess is they'll fail miserably, but let's try to be positive). Let's face it...we're not beating Miami for the next 2 years at least. Having Ray Allen is going to help them a lot and Rashard Lewis isn't a bad pickup for them either. Now they'll actually have more than a halfway decent bench next to their big 3 (assuming they don't do something like put Wade at PG and start Allen). We've already started to see that this group was never going to have a strong chance to beat the Heat...we might've had a fighter's chance, which is nice, but it was never something like 50/50 chance.
Add on the fact that you have Brooklyn buying talent like crazy and the Lakers adding Nash and possibly Dwight Howard (though the reports are all over the place, so who knows what's happening there)...we're in trouble even if we did somehow get past the Heat (or the Nets). Plus there's still the Knicks, Indiana, and OKC who'd all give the Bulls an issue in one way or another.
We know ownership is cheap is is not willing to pay the tax (though shockingly enough, we're a tax paying team at the moment by the slimmest of margins). Frankly, I don't see who we could add that would push us over the top. Lee would be a nice piece, Mayo would be a nice piece, but neither are the answer. Our only hope of ever finding the answer immediately was to trade Deng or Noah (or both) for Dwight Howard, but that was never even considered because Dwight (like everyone else in the world it seems) doesn't want to play here. And frankly...I can see why the FO is like "why pay the tax for a team who's not going to win anyway." especially considering the owner we have to deal with.
Bulls basketball is still going to be watchable for the next few years...we're still going to be a playoff team, though maybe not a 1 seed again, but we're not going to be contenders. We'll still be perhaps a dark horse if our guys have a good season, but obviously we're downgrading in overall talent, so I don't see that going very far.
Long story short, who we get/don't get now...it doesn't matter. We're not going to beat the Heat, we probably can't beat OKC, Lakers, or any other serious contending team this year for sure, and probably not next year as well. Our core isn't good enough. Signing Courtney Lee or whoever else doesn't change that...in fact, it just creates more of the same problem: Derrick Rose and a bunch of nice role players instead of Derrick Rose and another star and a few nice role players.