I guess the first instinct would say to trade him. The second might say sit him and let him watch Von Wafer do his job.
At the end of the day, this is why Daryl Morey is in charge, and not us. I hope cooler heads prevail here. If we were to trade T-Mac, what could we get for him? Amare? Yeah, right. A package from the Bulls? Not if they can get Amare. Vince Carter? Why would we want his cousin? No, there is one thing to do with T-Mac.
Let him sit. Let him eat cake. Not too much, though, he might pull his shoulder reaching for that last piece.
In my mind, the worst case scenario with T-Mac is that he becomes a plague to the Rockets. Another Starbury. But that's not T-Mac, and the Rockets are not the Knicks.
Therefore, if T-Mac does not play at a high level, let him go in 2010. Free up the cap space. Go after someone big. Anyone, really. Joe Johnson looks pretty good right now, doesn't he? He'll be there in 2010. Steve Nash could come if he would be willing.
Anyway, what I'm trying to say is that if the Rockets can't get any good value for T-Mac now, there's no need to just dump him for the sake of dumping him. We've got a capable backup in Von Wafer, and Artest can play the two also.
I understand people want action, but sometimes you have to take a step back to look at the big picture.