I'm not comfortable with the idea of Arenas coming here. He isn't really a distributor and is extremely injury prone. There's questions about his consistency, dedication, and the way he handles himself in a professional setting. I would only want to see him here if it was an absolute ripoff steal of like 5 million a year or something ridiculous.
If we were to go after Washington's talent, I would try to swap Calderon and Caron Butler. Calderon fits into their now gaping point guard scheme, and Caron fits our need for an athletic SF/SG combo not named Antoine Wright. That's looking at things rather simplistically, but at this point, I'm happy letting Jack handle the PG duties and if Washington is crazy enough to make this trade (desperation does funny things to people) then Bosh would definitely have another reason to hang around. A trade for Gilbert Arenas to me is just asking for trouble.