TrueHoop Network bloggers breakdown the impact of Tuesday's three-team trade on their team.

From the Rockets’ perspective, there’s not much to hate about this trade. While it’s possible that Terrence Williams will not crack the regular rotation immediately, this was yet another classic low-risk/high-reward maneuver by general manager Daryl Morey. In giving up just a lottery-protected future first-rounder for the former No. 11 overall pick, Houston adds a promising piece for the future that could pay dividends in the present.
Williams brings playmaking, athleticism and defense to a club sorely in need of those qualities at his position. T-Will once cited Rockets forward Shane Battier as the player whom he most closely emulates on the defensive end; the latter will now serve as mentor to Houston’s newest acquisition.
While the maturity concerns are alarming, risks must be taken, especially at such low costs. The Houston Rockets now have a wing with plus athleticism whom they can groom as a defensive stopper, something they have not been able to say for many years.
-- Rahat Huq, Red94

With the trade of Sasha Vujacic and a first-round pick for veteran forward Joe Smith, the Lakers have effectively cut their payroll and added another big man to an injury-depleted front line. And while adding the sweetener of a future draft pick makes the price of completing this deal a bit higher, it’s very much worth it.
The Lakers needed another big man as insurance for what they hope is another long season. Even with Andrew Bynum’s return, the Lakers are still missing back-up center Theo Ratliff and need a contingency plan in place in case his recovery from arthroscopic knee surgery doesn’t go as planned. Smith gives the Lakers a player that can fill that void while Ratliff is out while also giving the coaches options when Ratliff does return.
From a financial standpoint, the Lakers have the highest payroll in the league and have been looking for ways to reduce their salary commitments. Sasha’s bloated (and expiring) contract made him a prime candidate to include in any deal. Being able to get out from under Vujacic’s contract means the Lakers save upwards of $9 million when including the luxury tax payment they’ll owe. These savings allow the Lakers to have greater financial flexibility going into an uncertain 2011 off-season.
-- Darius Soriano, Forum Blue And Gold

Despite his talent, Terrence Williams clearly didn't fit this Nets team. Being in Avery Johnson's doghouse isn't good for anybody -- just ask Troy Murphy -- and the Nets certainly weren't promoting him as an asset. His issue has always been his poor decision-making, and Houston has the right system to change that.
But for the Nets, this is clearly a set-up deal. In terms of on-the-court value, it looks like the Nets got 70 cents on the dollar, but two first-rounders and an expiring contract in Sasha Vujacic means the Nets get three trade assets for the price of one. That gives them much more flexibility when making deals for anybody, including that guy up in Denver everyone seems to be talking about so much.
The assets acquired may not be worth much -- a Lakers pick late in the first round isn't going to help many deals, and the Houston pick is lottery-protected -- but if these picks are used in a deal for Carmelo Anthony, I don't think too many fans will be complaining in the long run.
-- Devin Kharpertian, Nets Are Scorching