Probably best for both parties as the Bucks are going to be hurting for awhile with the losses of almost all their key players of the past couple of years. George Karl served for 5 years with the Bucks which is around the time that he should be moving on. He is a great coach, I didn't get to catch much of his Bucks team, but I grew up watching his Sonics bloom into one of the best regular season teams ever and one of the hugest playoff chokers ever. He put entertaing teams on and off the floor and was great to watch himself. I'm sure he'll be fine with the 7mil he got this year and go to the booth for a year until returning. He's still available asset for in the right circumstance.
I like this trade for New Orleans, Rashard Lewis's awful contract ends after next season, so either they get a lot of cap room from the expiring deal, or a good trade chip to send to another team trying to create cap room for free agency next year.