While it would be wonderful to receive a "get out of jail free" card and deal Josh Smith for an expiring deal it doesn't seem like the Cleveland Cavaliers are interested.
The Cavs, having already traded some choice high second-round picks for Spencer Hawes, have dangled Deng around the league because they are afraid they won't be able to get him to re-sign in the offseason. It had been reported that Detroit had contacted the Cavaliers with interest, but according to Ken Berger of CBS Sports there was "no traction" with Detroit on getting a deal done.
There is no indication of what had been offered, but it's logical to assume that Detroit offered power forward Josh Smith, who's deal matches almost perfectly with Deng's. Because Deng was recently acquired, CBA rules dictate that he can only be traded again in a one-for-one player deal. Teams can get around this by structuring a second deal (like perhaps agreeing to take on the multi-year deal of Jarrett Jack in exchange for the expiring contract of Rodney Stuckey and affordable Kyle Singler deal).
Still, looks like the dream is dead and it is time to move on. In what might be his last deadline as GM of the Detroit Pistons it looks like Dumars is going to do what he usually does, which is stand pat and hope for the best.