Things we know: the Bulls are cool with parting ways with Kirk Hinrich (and John Salmons), if they can get some expiring contracts in return. The Lakers — who are looking for some perimeter defense — have inquired. The Celtics inquired back in December. And with Ray Allen possibly getting dealt off the C’s now, there’s a chance Boston could be back in the picture.

But might the Bulls be better served trying to deal with Houston for Tracy McGrady? It’s an idea Chris Sheridan throws out in his chat today: “I think if they can do a McGrady deal in which they clear John Salmons and Tyrus Thomas along with Hinrich to clear room for a second max free agent, that’s the more preferable route.”

And you know what? This would be the more preferable route. The Bulls would clear Hinrich and Salmons off the books, leaving them with even more money to work with to go after two max guys. And they’d be getting McGrady in return, instead of some spare parts — Adam Morrison! — from the Lakers.

This is a more risky proposition, though: The Bulls traded for Devin Brown for some insurance if Hinrich or Salmons were dealt, yet, if T-Mac comes up lame (which is always a concern), the Bulls are suddenly staring at Devin Brown and Jannero Pargo at the 2-guard.

Also: You really have no clue what you’re going to get from T-Mac; he didn’t play enough in his limited run in Houston to see what he can do now that he’s back in playing shape.

Further, and this is certainly worst case, if the Bulls end up not netting a top-line shooting guard in free agency (Joe Johnson/Dwayne Wade), they could be razor thin at that position. Brown’s and Pargo’s contracts will be up. Salmons and Hinrich will be gone. And it’s unlikely, at least at this point, they’d want to try and re-sign T-Mac.

But other than that, this could be a nice coup for the Bulls as T-Mac would likely be the best talent they could get in return for Hinrich, and it would set them up the best for the free-agent market this summer.