Hate to say it, but I think we will really regret that the NJ deal didn't go down. Favors may end up being a better player than Melo straight-up 5 years from now. It's not clear to me who killed the deal. Prime suspects are:
1) Josh Kroenke - his refusal to take on additional salary in 2010-2011 actually killed the deal.
2) Melo and His Team - Melo realized that playing in New Jersey is close to death. Melo has decided to either be traded to NY or will sign there next summer, and won't sign an extension elsewhere.
3) The East Coast Media - the media frenzy around the trade discussions ultimately caused Melo and the Denver FO to get cold feet and kill the deal.
I am bummed we won't have Favors in town. He would have been a great addition and would have made the team younger and more athletic. I am now leaning toward playing the season with Melo, if nothing else to root for an ACL tear. (just kidding!..sort of). Melo's team is now clearly World Wide Wes and CAA, not the Nuggets or the City of Denver.