Phil's done what he needed to do- he's cleared Felton and JR's salary off the books and given us about $30mil spending money. We've got some cheap players on low contracts to make up the bench (Early, Tim Jr, Gallo, Thomas, Larkin, Acy, Cole, Amundson). Calderon I don't mind especially with FA PG options diminishing. we've got a top first round pick hopefully coming our way too.
The trades at the deadline have made Dragic and Reggie Jackson very unlikely. Also you can cross Patrick Beverley off the list too because Houston failed to upgrade their PG spot, so they're more likely to keep him. Suns have lost IT and Dragic so they'll definitely match any offers to Knight. Also now the Bucks no longer have to pay Knight, they are more likely to match offers for Khris Middleton.
On the positive side, maybe Monroe is more available (will the Pistons go Max on both Monroe and Reggie Jackson, especially with Josh Smith and Brandon Jennings still on the books?). Also, Blazers just traded a first for Afflalo, which hopefully means Wes Mathews may be more available (it's doubtful, but not impossible they pay both of them).
I still think Kevin Love is a possibility- I don't like him, but if the Cavs go out early in the playoffs, and they continue to struggle to integrate him, maybe he can be sold on the big market and an offense that is actually Taylor made for him.
So overall, we have little chance of upgrading the Pg spot, however SG is very possible (Wes, Afflalo, Green), as is PF (Monroe, Milsap and Kevin Love). C is looking a bit thin (Robin Lopez and Asik). I'd say that makes Towns and Russell more attractive as draft options.