The more I think about it, the more I'm convinced this is the most likely trade: Thomas for McDyess, Blair and Anderson.
For the Bobcats, it makes sense because: they not only slash salary -- which is their favorite thing to do -- but they also get two solid, young, inexpensive players. Considering they have the shallowest talent pool in the league, getting two of those for one isn't a bad idea. They desperately need wing depth and outside shooting, so Anderson would be a good fit. As for Blair, he's a positional replacement for Thomas and in terms of sheer production, they wouldn't be losing much, if any. Plus, there's a Thomas type player in this draft, in Biyombo, who could replace him, if they choose to do so. Even if they don't draft Morris or Biyombo, they have depth at PF: Diaw, White, Najera; plus they'd add Blair.
Thomas, from a personality standpoint, is not Spurs material. I don't recall any off court incidents, he's more just immature and he has a temper. But there were rumors at the '10 trade deadline that they had interest and the overall package is similar to what they seemingly want in a starting four (essentially, a young McDyess), so they may be willing to overlook that. He's got 4 years and roughly $33.2 million left on his contract, but makes "only" $7.3 million next season. So for next season, the Spurs wouldn't add salary in the trade.
Then, at 29, they could either go big, or, if Honeycutt is available, they could take him (potential to be a plus defender) to be the backup three. Failing that, they could just go with a combination of Green/Butler, or take a flier on another young, unestablished three to compete with them for minutes.