Not so sure this is a great move for the Bulls. The majority of the cap space they'd created is now tied up in Ben Wallace for the next 4 years & I'm not sure he makes them an elite level team. They'll be a 50+ win side, for sure, but a team challenging for a title? I'm not so sure. They now have 3 athletic, offensively limited 4/5 men in Tyrus Thomas, Chandler & Wallace. Who is scoring in the low post for them?
Having said that, someone has to progress from the East, and without Wallace, I don't see it being the Pistons. The Heat obviously would start favourite, but they still need to stitch up GP, Mourning & Riley before they're even as good as they were last season.
All of which means things are opening up quite nicely for the Cavs. If Hughes can stay fit, Shannon Brown provides a spark off the bench and LBJ keeps improving, I see them as being a contender to take out the East.
I actually think this makes the East weaker, if that's possible via a personnel move within the conference. I'd say they now have 1 elite team (Heat) 3 very good teams (Chicago, Detroit, Cleveland) and some good teams (Indiana, Washington, New Jersey).