(for the sake of posting a source)
I couldn't find a thread about this, and being a Magic fan, felt compelled to make one.
The deal seems to be around 22M for 4 years, being slightly under the MLE per year.
This is a great sign for the Magic. We have been struggling at the SG position for years. Evans was inconstant, Bogans has no basketball IQ, and J.J, does not understand the meaning of the word "defense". Pietrus gives us a decent shooter who could easily be the 3rd scoring option and a guy who can guard star players.
The deal also gives us enough room to sign a veteran PF (any ideas?) for the minimum without having to pay any luxury tax.
Next move seems to be a sign and trade for J.Will, which would be wonderful. I'm not the biggest fan of J.Will's sloppy flashy play, yet we desperately need a 1 who's not 5"7. I'm sure that Williams will outplay Nelson for the starting role early in the season.
The lineup looks fairly promising:
Howard/ Gortat
Battie/ veteran PF/ Augustine
Lewis/ Hedo (6th man of the year?)
Pietrus/ Lee (considering that either Bogans, J.J., or both will be traded)
Nelson/ J.Will
Loosing Dooling, a defensive minded guard, is a little tough... yet he's no playmaker. Seeing Arroyo out of the team is great. He is a decent basketball player, but his style of play does not fit the Magic's more balanced basketball. Plus, it will quiet the damn Puerto Ricans down

The East is getting more competitive, but I'm sure that the Magic can easily be a top 4 team this season, which guarantees us making the second round of the playoffs... and afterwards, who knows?
What I'd really like to see the Magic do is trade Hedo. I love Hedo, he's a wonderful player and a true finisher, yet he will surely exercise his opt-out clause after this season. Trading him right now, as his value is high, can prove to be extremely beneficial... since we are extremely likely to loose him otherwise.
Your thoughts?