ESPN's Marc Stein has talked to people around the league and finds few teams planning to part with players thanks to the so-called "Allan Houston rule." The one-time rule lets teams cut one player, this summer only, without having to pay any luxury tax on the salary. They still have to pay the salary, and it still counts towards the salary cap--which is why Stein says plenty of overpriced players will stay home.
The Dallas Mavericks' Michael Finley is the only All-Star alumnus who's likely to be released while still anywhere close to his All-Star self.
The New York Knicks' plans to waive Allan Houston have become synonymous with the rule, obviously, and the Los Angeles Lakers' Brian Grant is another reasonably big name who's sure to be released. Knee problems, though, mean that neither is still regarded as a certain difference-maker.
Finley, then, stands to be the only impact player available. Portland's Derek Anderson and Indiana's Austin Croshere are among the more prominent maybes, but neither is on par with Finley.