Waited 2 years of holding bad contracts to have cap space for "one or two max players" and ended up with Andre Miller. Plus the whole RLEC thing.
It was one max player at best and the Darius Miles plan ended up not panning out. I don't see how the Blazers can be faulted there.
By not using the RLEC they got that money in the off-season to spend. No difference, unless you wanted to trade for Jefferson/Carter/Wallace/Dre at the trade deadline and give up Batum.