I get the feeling that if Sessions was all that, the Bucks would be keeping him. I know he lit up the score board a couple times last season but explain why the Bucks have no interest???
They have been paying out a decent chunk of cash for mediocrity, though this past season injuries were obviously part of the issue. I think they want to at least stay competitive, but don't want to risk the luxury tax being a small market team with the cap projected to possibly go down.
So in the end I don't think they want to lose Sessions, they just are wary of matching anything other than a bargain deal with their cap situation. Besides dumping Jefferson they have sort of been making a lot of little lateral moves. They drafted Jennings to be the PG of the future, and now got Ukic who is a young backup PG.
Anyway, there would be no need for a trade, we could outright sign him by giving him a deal that the Bucks couldn't match. I don't think it would be the right move though after all that has transpired. We just drafted Evans to give him every opportunity to develop into a PG, we still have Udrih around (unfortunately), and we just acquired a young backup PG to give a shot in Rodriguez.
Even if you take all of that away and talk just about a trade scenario though, I don't think K-Mart for Sessions is a fair deal...not without some significant sweetening that the Bucks are probably not very capable of. The thing about Sessions is that while he had a very good year, he doesn't have the track record that K-Mart has. The youngish guy with a longer track record of improvement and production is always more valuable than the young guy with just one very good year.
The short version: I really like Sessions as a player and his potential, just don't think he is a good fit for our situation at this time. The trade isn't a good value, and signing him outright probably isn't a good idea either.