If the deal only includes Gallo and Chandler, we have to pull the trigger. Gallo would have to play out of position (which would push Amare to center) or off the bench if we got Melo, and Chandler is a goner anyway, since we'd have to renounce his rights to sign Melo in 2011. If such a deal is on the table, you can't hesitate just cause you "think" you can sign Melo in 2011. That's too big of a risk when we can secure the player now without losing much depth, and still have room for Chris Paul in 2012. If they ask for Gallo AND Randolph AND Chandler, we turn them away.
Here's just a handful of things that can go wrong with signing Melo in 2011:
1) Melo signs an extension before June 30th, 2011. The fact that he's not signing one now does not mean he won't sign one after the trade deadline, especially if there's still no new CBA in place and a lockout is impending.
2) Melo gets traded to a playoff team or a hometown team (Brooklyn Nets/Washington Wizards) and convinces Melo to sign an extension. This is what people who preach patience should fear the most. Despite what this article says, it's already been reported that Melo would be interested in the Nets and Houston, and I wouldn't be surprised if more teams like Portland, Dallas, Orlando, and Washington are added to that list. Several of those teams can beat our package of Chandler and Curry.
3) Melo signs with another team in 2011, despite leading us on all year. You know, kind of like what LeBron did this year. Nets still have cap space for 2011, and so does Washington -- both hometown teams for Melo. I don't really see this happening though. If Melo doesn't sign an extension with any team and actually becomes a FA in 2011, then I'm pretty sure Knicks are his destination. But my gut tells me that Melo really wants an extension, which is why he's been pushing for a trade as early as August. Knicks may be his top choice, but as time passes, other teams will be added to his "list."