I would definitely stick with Frank Williams at the point. The Knicks drafted him with the notion that he would be their future floor leader, lately he's been proving that he is indeed deserving of that opportunity. Hinrich and Crawford are untouchable in Chicago, after a dissapointing pre-season marred by injury, Hinrich has proven himself to be a solid team general. This allows Crawford much more freedom within the offense, and the results have been fantastic for the Bulls.
Back to the Knicks: I would keep McDyess, while actively shopping Ward. There is no shortage of need at the PG spot, so Isiah should have no problem finding interested parties. I don't think the Knicks have top many positions of need, they really just have to keep everyone healthy and provide them enough time to mesh. The key will be getting consistent play from KVH, if he along with Williams can continue to produce, the Knicks will find themselves right back in the thick of the eastern conference playoff race.