Despite how poor Gay has been, I do think Prince is a downgrade and moves them further away from actually contending. I guess the salary dump levels things out somewhat, though.
Meh. The addition of Ed Davis is really good though. I really don't think it hurts their contender status much, but I don't really think they were contenders with Gay. And I feel like he was just taking bad shots for a team that's capable of getting better looks. Prince spreads the floor slightly better than Gay would. Prince is a 38-40% 3pt shooter, while Gay is like a 32% shooter (somewhat deflated because of more (worse) shots) With their inside out play, I think Prince is a better, cheaper fit than Gay. Then you add in Austin Daye and Ed Davis, I think Memphis has done very well today.