Use the pick only to trade for a franchise player. Otherwise, keep the pick and hope to get a star from the draft.
Let's hope $Ball is willing to draft a freshman who has size, athleticism, and potential instead of making a risk averse "safe" pick.
I would offer it, top 5 protected for both NY and Ours. Meaning that if either NY or Rox get a top 5 offer the pick goes to next year´s Rox pick.
I've actually been thinking about this for a while now. I could very easily see Morey doing EXACTLY this under the right circumstances. No way the Rockets give up an UNPROTECTED 2011 first round pick at this point unless they're getting back a star player. And unless they are getting at least a "very good" player, no way there isn't at least between top-8 and full lottery protection on that pick.