In my opinion, which basically seems somehow congruent with the statements made by you guys (so I'll try to be quick

), I understand that Posey has some leverage. He was a crucial part of their success last year and the role he plays made him a perfect fit. On the other hand, he is on the bad side on his 30s already and I would highly refrain from giving him the long term offer he wants. One could argue, that Bruce Bowen, who is almost exactly the same type of player as Posey, managed to stay effective quite as long as Posey's desired contract would run. But common take on the Spurs is that their supporting cast has been too old for years and I don't know if that would be the example to follow. One could also say that the C's window of winning another trophy isn't very large anyways and might be identical with the effectiveness of Posey, so why not keeping the winning formula together?
But the main arguement for me is: If there is any way of extending the chamiopnchip window for an aging team, than it is surrounding it with young legs as much and as soon as possible. The C's had this already going for them last year, but to keep this up, they can't have aging role players around, clogging their roster while they will try to sign younger replacements to support their aging core.
So in my opinion: If he wants the full MLE for more than 3 years and doesn't accept a pay cut for any years after, let him go.
(wasn't all that quick, huh? Aaah, it's just me I guess

)
The question that has been barely touched so far: What shall the Celtics do if they'd left Posey go (I guess there will be takers, might be even the Lakers ... ugh, that rhymes)...
As I have stated in another thread, I'll keep my fingers crossed they don't resort to any experiments like aiding a comeback try of Darius Miles. On paper - and given he was even half the athelete he was, what is doubtful since independent doctors ruled hie injury career ending, but anyways - this might look like a smart, low risk signing. I guess everyone will agree that this guy, once dubbed \"Baby KG\" had tremendous talent, but being one of the worst headcases kept him from becoming a true star. He could be had on the cheap since Portland still pays him massive money, he might be humbled and put in his place by the experience of a supposedly career ending injury and if there was a player known to inspire everybody around him with his dedication and work ethic, it would be \"Adult KG\" himself. And he definitely once had every tool to be both an offensive force and a defensive stopper on 4 positions. Soooo ... but my question is - leaving aside if he still has anything left of his athleticism that made him the talent he was - what will be if he doesn't pan out, wasn't humbeld and could not be kept in line even by KG? Why disrupting an obviously great team chemistry by bringing someone like him in? The only way I could live with such a deal would be, if he was signed to a non guaranteed contract much like Penny Hardaway was last year with the Heat.
Yes, Josh Childress would be a smart move and a steal if he could be had for the MLE, but that would probably depend on the question if someone would offer Josh Smith so much money that the Hawks would have to grossly overpay him, but still so little that they don't just let him leave. All in all, I don't think the C's can land him, because in the first scenario (Smith leaves), the Hawks will use everything they have to keep at least Childress and in the second (Smith stays) all teams with cap room will now go after Childress and offer him far more than the MLE. And I doubt that Childress would take signifact less just to play for a contender ... look like this worked out with Magette.
Other options? I don't believe there is much on the market that would fill the void left behind by Posey adequately. Probably that's why the C's resorted to such crazy stuff as working out Miles...