Your argument is that we shouldn't retain Hendo because a) our backcourt is going to be just fine without him (assuming we draft McLemore) and b) our frontcourt is such a gaping wound that we need to do everything in our power to address it.
a) I'd like to know your definition of okay. No Hendo means we're trusting our SG slot next year to a rookie who tended to disappear for long stretches of games on the college level and a disgruntled and disinterested Ben Gordon who would rather dribble the ball off his knee than show anything resembling positive effort (that goes without saying that he's on his way out of town as early as Cho can flip him). That's not my definition of okay. I don't want to potentially open up a wound for the sake of potentially closing another one.
^coming from one of the members here who doesn't think Hendo is much more than an average player.
b) we can fix our front court issues while retaining Hendo. None of this summer's group of FA's is going to be a max level player for the long haul anyway, so there's no reason to invest heavily there just for the sake of doing it. Cap space should be spent on guys worthy of it, spending all willy nilly because our current guys suck is a mistake. Resigning Hendo and bringing in a guy like JJ Hickson is perfectly within our cap space means and goes a long way to preserve depth in our backcourt while also bringing respectability to our front line.