This summer, the Knicks signed free agent point guard Raymond Felton, the fifth overall pick in 2005, to a two-year, $15.8 million contract.
Although he was widely regarded as the top free agent point, many Knicks fans feel that he is simply another stop-gap at the point—just as Chris Duhon was. However, Felton is a much better option than Duhon, who is realistically a career backup.
Over the past few seasons, Felton's stats have likely been held back by his sharing time at the point with fellow Charlotte Bobcat DJ Augustin and by running the Bobcats' offense, the third-lowest scoring in the league in 2009-10.
But with his blistering speed and quickness, coupled with his passing ability, Felton is primed to put up some huge numbers in head coach Mike D'Antoni's fast-paced offense.
Nevertheless though, the Knicks have been rumored to be interested in a number of other point guards, namely Chris Paul, Tony Parker and Ricky Rubio.
Paul, by far the best of this group, has been the name which has been most often mentioned in trade rumors.
This is possibly due to his toast at Carmelo Anthony's wedding, in which he proposed that he, Melo and Amar'e Stoudemire combine to create a rival Big Three to the one now playing in Miami on the Heat.
However, CP3 still has two years left on his current contract, giving him little power to force the New Orleans Hornets to trade him.
Compounding this matter even further is the fact that the Hornets' new coach, Monty Williams, recently stated that Paul never even asked to be traded, but instead, only made a plea for the NO front office to make some more competitive moves.
As a result of these factors, it seems that CP3 isn't likely to be joining the Knicks anytime soon.
Another big name point mentioned in Knicks rumors has been the former Finals MVP of the San Antonio Spurs, Tony Parker.
Recently, Paker's wife, actress Eva Longoria, was quoted as saying that he would like to come to New York.
Additionally, Parker has only one year left on his contract, and with the play of backup guard George Hill, the Spurs have been considering whether or not to re-sign or trade the Frenchman.
However, during the 2009-10 season, he played in a career-low 56 games, with his points, assists and his turnover averages worse than they have been during the past few years.
He did perform better during the playoffs, but at 28 years of age, the question is whether or not Parker's level of play is currently in decline.
And regardless of whether or not it is, Parker will definitely be seeking big money in his next contract, making him a big-time risk for the Knicks.
Ever since his name was entered in the 2009 draft, Rubio has been connected to the Knicks in numerous trade rumors.
Lately, due to his appearance and starting role (after the injury to Jose Calderon) for the Spanish team at the 2010 FIBA World Championships, Rubio has been in the news once again.
Furthermore, his strong showing in the friendly match against the US and his 11 assist performance against New Zealand.
However, as a whole, the Spanish team has underperformed to this point, losing to both France and Lithuania—both games in which Rubio played poorly.
In the Lithuania game he even fell victim to an embarrassing inbounds pass off of his back for a basket.
All in all, he has underwhelmed, averaging a meager five points, 3.6 rebounds, 6.2 assists, and 1.8 steals per game, on 28.6 percent shooting.
And, although he has reportedly upped his game in Liga ACB, the highest level league in Spain, the 19-year-old is still likely a project at this point.
Moreover, the Minnesota Timberwolves would seek to be handsomely rewarded in any trade for Rubio.
Therefore, the Knicks should probably wait on Rubio for, maybe seeking to pursue the youngster when he is a little more proven.
Since Tony Parker and Ricky Rubio would both be risky acquisitions, although both could potentially put the Knicks over the hump, I would advise against trades for either individual, unless NY could do so for cheap.
Therefore, to put it plainly, the Knicks should be content with Raymond Felton for now. He can aptly man the point while they wait to see what will happen with their ideal point guard target, Chris Paul.
And who knows, maybe Deron Williams could even become available as well, since his and Paul's contracts expire at the same time.