Some general comments:
JJ Redick is perhaps the most underrated free-agent going around (maybe not for long term, but for short term instant offense). He averaged 17ppg last year on an outstanding 46% FG, 42% 3PFG and 90% FT split. p.s. can't believe he is 34..how quick time has flown. Feel like he's only just found his grove now and yet he is nearly at retirement age.
Though Lebron never would, I'd always thought it would be a major boost to his legacy/reputation if he turned around to Cavs, took a $15m odd paycut, re-signed with the Cavs because it's 'home' to him and they managed to move Love, TT, JR or Hill (though some of those would be difficult) and get an upgraded roster with the likes of Cousins (who they may get cheaper given his achilles injury) and say a Kemba Walker.
Houston losing Ariza will be a huge loss for them. The reason Houston had such a good year was because of their defense - spurred by three particular people IMO - Ariza, Capela and Tucker. Losing Ariza is bad. He had a bad shooting spree in the playoffs but defense was his key.
I think Philly are going to underestimate/already underestimating the value that the likes of Redick, Bellineli and Illyasova bring to the team. Those 3 gave them a combined 40ppg on pretty good shooting %'s. Simmons/Fultz are going to have to pick up some perimeter scoring to compensate - yet questions remain as to their shooting ability.
Re: Chris Paul - agree with the above comments. His durability is a concern and he has struggled recently with injuries, despite having his minutes restricted. He has played an average of just 31mpg over the last 2 years.