Think about it. Miami basically did the exact same thing that Walsh did, except they were even more drastic in stripping down their roster, and, most importantly, they had Wade, a bogus "FA," in their pocket, pushing them to create more and more cap space so that they could bring together their so called dream team.
Walsh did everything right in his attempt to get James, but he was not starting out with a player like Wade to serve as a lure.
He faced a true Catch-22 situation. Create cap space at the expense of presenting a decent team to prospective free agents, or have a decent team with no true stars with room for only 1 max contract, and face the probability that a guy like James would not want to sign into that situation.
Walsh did nothing different in concept when you compare the Knicks plan to what Miami did. Miami just found a way to dump even more contracts, open up even more cap space, so that they could stand by and have Wade lure Bosh to Miami, and then watch as Wade and Bosh reeled in LeBron, who stopped struggling after Bosh said he would join Wade in Miami.
Not sure what else Donnie could have done, and I doubt that having this or that player instead of someone we did draft, would have made a difference.
No man is happy without a delusion of some kind. Delusions are as necessary to our happiness as realities- C.N. Bovee