Atlanta Hawks: B+
Key additions: Paul Millsap, Dennis Schroeder (rookie)
Key subtractions: Josh Smith, Zaza Pachulia
Overall: They stayed competitive this year by keeping Jeff Teague and adding Paul Millsap for cheap, and didn't mortgage the future with long-term deals.
Boston Celtics: B
Key additions: Brad Stevens (coach), Gerald Wallace
Key subtractions: Kevin Garnett, Paul Pierce, Jason Terry
Overall: They blew it up, which was probably the right thing to do. But they failed to clear their long-term cap sheet in the process.
Brooklyn Nets: A
Key additions: Paul Pierce, Kevin Garnett, Jason Terry, Andrei Kirilenko
Key subtractions: CJ Watson, Gerald Wallace
Overall: They turned themselves into a contender by adding a bunch of former All-Stars, which you can do when your owner is willing to spend hundreds of millions.
Charlotte Hornets: D
Key additions: Al Jefferson, Cody Zeller (rookie)
Key subtractions: Tyrus Thomas
Overall: They gave $41 million to Jefferson after he made the Jazz nine points per 100 possession worse when he was on the court last year, and reached for Zeller.
Chicago Bulls: B
Key additions: Mike Dunleavy, Derrick Rose (that counts, right?)
Key subtractions: Marco Belinelli
Overall: They could have done more if they wanted, but Dunleavy is a really nice piece and this is still the second-best team in the East with Rose back.
Cleveland Cavaliers: B
Key additions: Andrew Bynum, Jarrett Jack, Earl Clark, Anthony Bennett (rookie)
Key subtractions: None
Overall: They might be jumping the gun by trying to make "the leap" this year instead of being bad again and going for it after the 2014 Draft. But Bynum is a no-risk steal and Jack signed for decent money.
Dallas Mavericks: D
Key additions: Jose Calderon, Monta Ellis, Samuel Dalembert
Key subtractions: OJ Mayo, Chris Kaman
Overall: They went for Dwight Howard and lost out, and then used that money for two mid-tier players. There's something to be said for trying to remain competitive, but they're in no-mans land right now unless they can make a trade for a superstar at some point.
Denver Nuggets: F
Key additions: JJ Hickson, Randy Foye, Darrell Arthur
Key subtractions: Andre Iguodala, Corey Brewer, Kosta Koufos, George Karl (coach), Masai Ujiri (GM)
Overall: They lost their best player, coach, and executive, as well as two role players. Things could not have gone worse.
Detroit Pistons: B+
Key additions: Josh Smith, Chauncey Billups, Kentavious Caldwell-Pope (rookie)
Key subtractions: Jose Calderon, Jason Maxiell
Overall: They didn't torpedo their future with a bunch of long-term deals, and put together an intriguing core with the addition of Smith.
Golden State Warriors: A-
Key additions: Andre Iguodala, Marreese Speights
Key subtractions: Andris Biedrins, Jarrett Jack, Richard Jefferson, Carl Landry
Overall: They dumped a bunch of bad contracts and added a top-25 player. The Jack loss will hurt, though.
Houston Rockets: A
Key additions: Dwight Howard, Isaiah Canaan (rookie)
Key subtractions: Carlos Delfino
Overall: They managed to get one of the best players in the game without giving up anything in a sign-and-trade, enough said.
Indiana Pacers: B
Key additions: CJ Watson, Chris Copeland
Key subtractions: All their terrible bench players
Overall: Their bench stunk, so they dropped DJ Augustin, Jeff Pendergraph, and Tyler Hansbrough and brought in two improvements. They also kept David West.
Los Angeles Clippers: A
Key additions: JJ Redick, Jared Dudley, Doc Rivers (coach)
Key subtractions: Eric Bledsoe, Caron Butler
Overall: They got deeper on the wing by adding two shooters who are perfect fits for their lineups.
Los Angeles Lakers: B-
Key additions: Chris Kaman, Nick Young, Wes Johnson
Key subtractions: Dwight Howard, Metta World Peace
Overall: They're still set up perfectly for the summer of 2014, but it's strange that they brought in all those role players to try and win 40 games this year.
Memphis Grizzlies: C
Key additions: Jamaal Franklin (rookie), Kosta Koufos
Key subtractions: Darrell Arthur
Overall: They desperately need shooting, but they didn't get any.
Miami Heat: C
Key additions: None
Key subtractions: Mike Miller
Overall: They're capped out and can't do anything, but keeping Birdman was big.
Milwaukee Bucks: D
Key additions: OJ Mayo, Zaza Pachulia
Key subtractions: Monta Ellis, Mike Dunleavy, JJ Redick
Overall: This is a team that should be going the way of the Celtics and blowing up the roster. Instead they're signing mediocre players to try and win 38 games.
Minnesota Timberwolves: B
Key additions: Kevin Martin, Corey Brewer
Key subtractions: Luke Ridnour, Andrei Kirilenko
Overall: This grade is assuming they re-sign Nikola Pekovic. It makes sense to try to give the core of Rubio-Love-Pekovic one more season before thinking about making tweaks.
New Orleans Pelicans: B-
Key additions: Jrue Holiday, Tyreke Evans, Anthony Morrow
Key subtractions: Nerlens Noel
Overall: They went for broke, but overpaid (Evans isn't worth $44 million) and sacrificed the future (Noel this year and a #1 pick next year) to do so. In addition, Holiday-Evans-Eric Gordon seems like a mismatched backcourt. They're intriguing, though.
New York Knicks: B-
Key additions: Andrea Bargnani, Metta World Peace
Key subtractions: Jason Kidd, Chris Copeland, Steve Novak
Overall: They did about all they could for a capped-out team. Although it's hard to imagine that the boatload of picks they gave up for Bargnani couldn't have been used in a trade to get a better player.
Oklahoma City Thunder: C
Key additions: None
Key subtractions: Kevin Martin
Overall: They tried to get a shooter but have been unsuccessful (so far). In addition, the pick they got for James Harden is Steven Adams — a project who won't contribute this year. The silver lining is the trade exception they got for Kevin Martin.
Orlando Magic: B+
Key additions: Victor Oladipo (rookie), Jason Maxiell
Key subtractions: None
Overall: They're going to be awful again, but that's the plan. They also drafted Oladipo, who most people loved.
Philadelphia 76ers: A-
Key additions: Nerlens Noel (rookie)
Key subtractions: Andrew Bynum, Jrue Holiday, Dorell Wright, Nick Young
Overall: They blew it up after the disastrous Bynum trade. If things shake out right, they'll have two top-10 picks in next year's loaded draft and a ton of cap space.
Phoenix Suns: B
Key additions: Eric Bledsoe, Alex Len (rookie)
Key subtractions: Jared Dudley
Overall: They're going to be horrific next year. But swapping a veteran (Dudley) for a talented young guy (Bledsoe) was smart.
Portland Trail Blazers: A-
Key additions: Robin Lopez, Thomas Robinson, Dorell Wright, CJ McCollum (rookie)
Key subtractions: None
Overall: Portland totally revamped their bench — which was among the worst in the league last year. McCollum should be able to play right away, and Robinson still has potential.
Sacramento Kings: B
Key additions: Carl Landry, Ben McLemore (rookie)
Key subtractions: Tyreke Evans
Overall: Not overpaying for Evans is a small victory. But this team was such a mess that new ownership isn't going to fix it in one summer.
San Antonio Spurs: B
Key additions: Marco Belinelli
Key subtractions: None (Tracy McGrady?)
Overall: They overpaid to keep Manu Ginobili and missed out on Andrei Kirilenko. But Belinelli looks like the perfect Spur.
Toronto Raptors: B+
Key additions: Masai Ujiri (GM)
Key subtractions: Andrea Bargnani
Overall: Trading Bargnani's terrible contract was a huge victory in every way.
Utah Jazz: B
Key additions: Brandon Rush
Key subtractions: Al Jefferson, Paul Millsap, Randy Foye
Overall: They made room for their young big men to get major minutes, and got a bunch of picks in the process. Still, they took a step back this summer.
Washington Wizards: B
Key additions: Otto Porter (rookie), Eric Maynor
Key subtractions: None
Overall: They were quietly decent after John Wall came back last year. Adding a few pieces should put them on the fringes of the playoffs.