I don't think Bogut is gonna be a complete bust. Anyone who's watched him in Int'l play and in the Olympics vs. the US knows that he can hold his own. He'll have a couple of years of putting up 6pts 5rbs but he should be able to progress nicely.
As proven in the Olympics against the US (Duncan none-the-less) he put very respectable numbers. His aggressive play in the paint coupled with the fact that he truly is a back to the basket CENTER, is why teams have been salivating after him. There will be alot of long nights ahead of him but given time he will be a decent CENTER (Brad Miller case in point). He may even be a decent consideration at the PF for the Bucks.
This move makes the Bucks that much more competitive in the Eastern Conference. (PG) TJ Ford has come back from his injury and has picked up right where he left off. (SG) Redd is arguably one of the top 10 best SG's in the league. (SF) Simmons is a team player that does all the little things...defend, rebound, score. (PF) Bogut could instantly be an upgrade over Joe Smith. (C) Magloire is the much needed presence in the middle.