I feel this is a good trade for both teams. Milwaukee gets a project in Ha Seung-Jin, but with the right training and patience, he could flourish into a solid backup to Andrew Bogut, and possibly even a starter in this league, but he will have to work his tail off and listen to his coaches if he can even understand him to be successfull in this league.
Brian Skinner has established himself as one of the premiere workhorses in this league. He brings rebounding and experience to the table for Milwaukee. He seems to do well no matter where he goes, and he can even start a few games if needed. He will make his teammates want to work as hard as him, and maybe it will rub off on Charlie Villanueva. I think 3.5ppg, 4.5rpg, and 1.5bpg isn't too much to expect from him.
As for Steve Blake, the main acquisition for Milwaukee, he will be given a huge share of the workload at PG, since T.J. Ford was shipped to Toronto about a month ago. He will split time with Mo Williams, and I think eventually win the job, as he did in Portland last year. He has a nice shooting stroke, which is essential when you have the sweet passing Andrew Bogut down low to get you the ball on the perimeter. I feel comfortable to say that he will average somewhere around 8ppg, 4.5apg, and 1-2spg.
On the other end of the spectrum, Portland acquires C Jamaal Magloire, a 1 Time All-Star out of Kentucky who spent most of his career in Charlotte/New Orleans/Oklahoma City before being shipped off to Milwaukee last season in a deal involving Milwaukee's 2006 first round pick and Desmond Mason. He is a solid center who can do a little bit of everything for you, but doesn't like seeing limited action, and would prefer to start. Portland can do that for him, and I expect him and his contract to feel right at home. 13.5ppg, 8.5rpg, and 2bpg is what I believe he will average.
The winner: Milwaukee. While they could've gotten more in return trading Magloire to a different team, they still get a PG that fits their system, a hard working defensive minded F/C, and a potential career backup to Andrew Bogut, while Portland gets only one player, Magloire, in return for their already salary cap hurt team.
All Hail Kupcake