You've gotten the long versions. Here is an attempt at the short version.
It sounds like Walker is going to the Heat. He wants an extra year and a higher annual salary in the deal and to do that, he needs the C's to sign and trade him. The C's don't want salaries and need some motivation to do the deal. Enter Mark Bartelsein.
The gist of what is below this post is that the C's will end the day with a sizable trade exception (likely over $6M), a young player or two (Miralles? Burks?), and perhaps a 2nd rounder or two. Any players that we would get from the deal would also be paid for by another club.
Its likely that a 3rd team with cap room will have to be involved to make it work. In what sounds like a separate deal, Jason Williams will be joining Walker on the Heat.
We'll be able to use the trade exception at a later date to acquire a player that makes around that amount. For more details on trade exceptions, see Larry Coon's FAQ #68.
The C's will also likely sign a PG for around $1.6M a year.
Of course if I get further details, I'll keep you up to date. This was only meant to be a summary post.