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HOT/NOT

HOT

T-MAC'S BACK: Tracy McGrady ran out of gas after playing 32 minutes in his first game as a Knick and couldn't stay on the floor in overtime, but he still scored 26 points. "I didn't want to be a hero in my first game back," he said, but he might be if he makes good on his suggestion that he'd re-up with New York on the cheap should the Knicks sign LeBron and another max-contract player.

HOUSE PARTY, TOO: Not only was McGrady big in his first game in New York, so was former Celtic Eddie House (24 points). According to Elias Sports Bureau, the last time two teammates combined for 50 or more points in their debut with a team was in November 1992 — new Suns Charles Barkley and Danny Ainge combined for 57. (McGrady and House are the first pair to both top 20 points when joining a team during the season and debuting in the same game.)

RAY'S RESPONSE: How did Ray Allen respond to all the trade rumors? By going 10-of-15 (4-for-6 from 3-point land) and scoring 24 points in Thursday night's Celtics win against the Lakers. Check out YouTube for his exclamation-point dunk during Boston's 15-2 run.

NOT

SINKING SIXERS: Philadelphia failed to move Andre Iguodala and lost by 32 to Chicago on Saturday night. Combined with a 27-point loss to Miami on Tuesday, it marks the first time the Sixers lost two games by 25 points in a five-day span since February 1997. That was Allen Iverson's rookie year ... these are not the old days he sought to relive when he came back.

NEW ROCKETS NOT TAKING OFF: They traded McGrady and acquired Kevin Martin, but that didn't stop the Rockets from coughing up a 12-point second-quarter lead to the Pacers, who eventually won 125-115. According to Elias, that's the second time this season Houston lost a home game by double digits after leading by at least 12; they'd had only one such loss in the previous five years.

JOSH HOWARD IN "THE HANGOVER": This one's a drama. A Mavs source told ESPN.com — after Howard's trade to Washington for Caron Butler — the "stomach illness" that kept Howard out on Jan. 20 was actually a hangover. Howard, who scored 20 points for the Wizards in his debut, said of the report that "I'm not responding to a lie."

Let's not fool ourselves. For many of the teams who made trades on or before Thursday, it was all about clearing cap space and landing one of the prize free agents this summer in the deepest pool of recent memory. Many feel they have a shot at LeBron James. Others will be in the market for Dwyane Wade, Chris Bosh, Joe Johnson and the like.

With the economy the way it is and league revenues supposedly taking a hit, there's a chance the salary cap could be lower next season, which could affect the final outcome of the free agent class. But that aside, here's a team-by-team rundown outlining chances at a city crowning King James their new monarch:

Atlanta: Johnson's making $15 million, so the Hawks could presumably be spenders, but they're more likely to make a run at their own guy with a roster that's becoming one of the better teams in the East and a core expected to be together for a number of seasons.

Boston: Ray Allen's nearly $19 million comes off the books, but the Celtics are already above the cap. They'll likely sign Allen to a cap-friendly deal and go forward with the Big 3.

Charlotte: Another up-and-coming team, but another one that will be above the cap. Look for them to instead try and salvage Tyrus Thomas, but things could hinge on whether or not Michael Jordan becomes full owner.

Chicago: The Bulls will have $18-$19 million in cap space and a young, budding roster featuring Derrick Rose and Joakim Noah. They're a real possibility if LeBron doesn't mind walking past that MJ statue every day on the way to work.

Cleveland: The Cavs have shown LeBron they're serious about keeping him by spending money to get him a cast, but a 34-year-old Antawn Jamison (playing alongside a 38-year-old Shaquille O'Neal) makes it seem as if they're trying to woo LeBron more with a title than a future.

Dallas: Mark Cuban would certainly cough up the cash, but cap space is the issue. Even if Dirk Nowitzki opts out, it still couldn't happen.

Denver: Wisely extended Carmelo Anthony already so they wouldn't risk him entering this free-agent class, but he's instead the LeBron of 2011.