1. Do the Raptors need to start over and rebuild?
No. I was one of the biggest 'tank commanders' two seasons ago, when JV was still playing in Europe - how great would it have been to have added Lillard or Barnes, instead of Ross? The team has some pieces to build with, has some tradeable assets and has an ownership group willing to spend; a blow-it-up rebuild isn't necessary. Significant retooling should suffice.
2. What one player would you be unwilling to part with in a rebuild?
3. Is the next step for this team through trades, free agency or the draft?
Trades immediately (for a combination of young talent and draft picks, not just salary dumps), hopefully followed by the 2014 draft.
4. What is the ceiling of the current team moving forward?
Barring any further roster moves, this team is stuck in a 7-team fight for 3 playoff spots (#6-8) in the Eastern Conference. First-round fodder at best, #12-14 draft pick at worst.
5. Would you be less inclined to watch a Raptors team next year that is rebuilding, again?
Yes, as long as there is a clear commitment to a specific long-term team-building strategy, which is faithfully adhered to. Indecision and trying to dabble in a rebuild while also having a desire to compete now, is the death knell for bubble teams.
As for the poll, I'd pick something between 'tanker' and 'tweaker', since I think more than minor tweaks are needed, while extreme blow-it-up tanking is not an absolute necessity.