It's really intriguing. Because especially since the Cavs are just trashing Bynum on the way out, they don't have any delusions that a team actually wants him at his full contract (the $6m guaranteed on 1/7).
But a team that has middling players on decent deals to move, could send the Cavs around the ~$12m Bynum makes, then waive Bynum. That team would pay pretty much nothing in real salary, and only have $6m on their cap (and tax calculation).
And this assumes that the Cavs want useful players themselves, which I think is logical since they're making a halfhazard attempt at the playoffs that's not going well. I'm not sure they'd want to take on 2014 money, but that'd open up more possibilities.
Before you think of saying it, No, the Cavs won't take Boozer back. I think they would definitely like Luol Deng, but based on reports on what the Bulls have been asking, that'd mean Waiters AND a pick, and that's probably too much for Cleveland. But would really be nice if it could be done.