Barfo -
You're suggesting the Blazers can expect to get a "crappy contract" likely belonging to a veteran who wasn't very useful to his former team (and he'd be useful to the Blazers how exactly?)...
I think that's realistic. Depressing, but realistic.
Minstrel -
You're suggesting that Miller or Camby (and no, I didn't intend to distort things by using Joel in my example, but in retrospect, I can see how you'd guess that) could net the Blazers multiple young players, potentially, without the need for adding Fernandez or Batum.
I think that's not entirely impossible, but unlikely. Tthe Blazers would have to find that perfect trade partner that's close to a championship except for a singular need for a pass-first guard with a suspect outside shot (Miller) or a skinny (he's wiry!) defensive-oriented center (Camby)... and that team also would have sufficient young assets that a.) they were willing to part with, and b.) could be combined to create enough $ to balance out Miller's or Camby's contract (though the trade exception could obviously be used).
I think things aren't as bad (as I'd call them) as barfo outlines, and not as easy as Minstrel suggests. I think in order to get the young assets that Minstrel suggests the Blazers could get - or to avoid the "crappy contract" and "of little use" veteran - that barfo expects, the Blazers would have to attach Fernandez, Batum, or one of the more highly paid players (i.e. Aldridge or Matthews).
I suppose I'm expecting the Blazers are going to want shoot higher than barfo is suggesting, and won't be as lucky (or as creative, perhaps?) as Minstrel believes.