What is an acceptable bad contract for young assets/ picks

[MadBOBCATfanUK]

I wouldn't mind going for 3 years but some here think we should keep the cap space, tbh no big 3 agent is going to come here within that time so it's not like the cap space is that much of a valuable asset. Do you think it's worth taking on some bad contracts in the search for picks? And if so what ball park figure are you comfortable with salary and years.
Extreme end of the spectrum:
http://games.espn.go.com/nba/tradeMachine?tradeId=84a49kr
coming with D-Towns pick in this years draft

or
http://games.espn.go.com/nba/tradeMa...radeId=89apdju
with both Phoenix and Detroits pick coming to us

I know Cho believes in the value of cap space but he also believes in gaining assets