I was thinking about this for a little bit and this is my logic.

First lets state our current needs / situation. Our biggest need is a primary outside scorer, ideally at the 2. At the same time we already have a very good PG in Felton.

With that stated, trading for Paul only makes sense if we are addressing our primary need while also utilizing Felton in the trade. Making this happen this year is pretty much impossible.

So the plan should be to trade for Paul next year, using Felton, while also being in a much better position given Paul will only have 1 year left on his contact. Felton will also most likely increase his value come next year. So will our primary young assets, Gallo and Randolph.

So I would propose some combination of trading and FA signing that has Carmelo and Paul coming back to us and one of Gallo / Randolph, Felton, Chandler and TD going out.