The TWolves rid themselves of a huge amount of salary, and 3 players that are worthless in comparison to their big fat bloated contracts. Rose and Taylor come off the cap at the end of the 2006/07 season, but the Wolves would probably just waive them, to increase their odds of winning the best big man lottery in a long time. They also get some players that are quility starting material to pair up with Randy Foye. This deal is probably the biggest contract dumping deal in history.
I have a feeling Ced's going to be counting down for quite awhile, at least until after this season. "Worst" case scenario, the team is absolutely awful and something is done at the deadline, but I don't see that happening.