If someone said to me you can have Temple at $8 million a year, or Waiters at just under $3 million a year, I would take the latter. Granted his two year deal features a player option in the second, so it's essentially another of those one year prove it deals, but at that price he's a bargain and offers more upside than Temple.
A case can even be made over Afflalo since he's no longer the defensive player he used to be years ago, he's still living off that reputation. Last season players Afflalo was defending shot better than their season percentage, he was a liability at time for the Knicks. So maybe Joerger gets him back playing to a high level of defense, but if he doesn't and he continues to be below average, that $12.5 million salary over a player earning a tad under $3 million is going to look like we've over paid Afflalo.
For me, if someone said you can have Waiters on a one year prove it deal at $3 million, or Afflalo and Temple at $20.5 million tied up for at least the next two years, I'd take Waiters. Even if Temple spends most of his minutes at PG, I'd take Waiters and bring in a backup PG, and we'd have change left!
That said, I think part of this deal with Miami is that Waiters sees a great opportunity to joining a winning franchise, with a good coaching setup, and a void at SG left by Dwyane Wade. If Waiters can utilise his potential and breakout (or at least perform to a good level), he can land a decent pay day next season with the Heat or someone else.