The Miami Heat have signed 13-year veteran point guard Mike Bibby quickly after he cleared waivers and became a free agent, adding an experienced, talented veteran point guard (even if he has lost a step or two as fellow W's contend).
He gave up $6 million in guaranteed money from Washington to have the chance to join a championship contender, and quite frankly (assuming I had enough money to make such a decision) I'd have done the same thing.
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They are pretty much the same team that won 3 straight titles ending last year. They are/were dominant, and there is no reaqson to think they won't be again. So they never caught up after Shaq's injury last year.