Rockets: the idea hinges on Josh Smith Being able to play the 3. rockets would get a starting lineup of Lowery / Martin / Smith / Scola / Thabeet. Not a world beating lineup, but at least one that can get to the playoffs and make some noise.
Grizzlies: they get out of 2 contracts for 2 guys on their bench. they get Courtney Lee to replace most of what they lost in OJ Mayo. the Rockets could send Hill to the Grizzlies if they were asking for another player as well.
Hawks: i don't follow the Hawks much, but I believe they're the dark horse to the Celtics, Heat, Magic & Bulls. This move would garner them more scoring with Brooks and Mayo and playoff level defense from Battier. Patterson won't make them forget Smith, but he should be solid. They're giving up a stud at PF to get the pieces to match up with the rest of the East. Battier can hold Pierce, James, etc. Brooks has the speed to stay in front of Rondo, Rose, etc. Sweeten the pot with draft picks to get the deal done.