re: Which FA's Will The Hornets Sign This Off Season?

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When has the cap ever stopped a franchise type NBA player from signing with the team he wants to sign with?

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Always, no cap space means no signing. As for S&T's, the new rules that kick in starting this offseason pretty much prevent tax teams from doing S&T's.

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• 2011 CBA: Taxpaying teams have a smaller midlevel exception, can acquire less salary in trade, and cannot use the biannual exception. Starting in 2013-14, teams more than $4 million above the tax level cannot receive a player in a sign-and-trade transaction.

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LINK

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If Paul wants to sign with the Knicks this summer and the Knicks still want him, it'll get done

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That's practically impossible. Even if the Knicks dump enough guys like Camby and Felton to get under the tax to do a S&T, there is no way penny pinching Sterling is taking back Amare or Chandler in a CP3 trade. He'd rather have cap space than a marginal star, he's only in it for the money, not winning or even being competitive. The only way I see the Knicks being able to get Paul is if they were willing to trade Melo for him.