I'm not sure about Tolliver. Yeah he's serviceable but he had a subpar season last yr for the Wolves -- shot only 39% overall, 25% from 3 and is only a 32% 3-pt shooter for his career. That ain't great considering the one thing this guy's known for is his 3-pt shooting. I think we could do better.
The best veteran 'stretch 4' guys out there appear to be Ilyasova, Ryan Anderson, Boris Diaw and Donte Greene. Not sure if any of these guys are in our price range though. Of these 4 Greene intrigues me the most -- youth, upside, and he might come the cheapest.
If they're willing to think outside the box a little, I'd look at some of the cheap/undiscovered talent that's out there. First and foremost, if Novak bolts, I'd look to get the most consistent 3-pt shooter out there to replace him. It'll be hard considering Novak was the NBA's best 3-pt shooter last year percentage-wise, but that should be the goal. What further complicates the situation is that we don't have a helluva lot of money to spend on a replacement. A couple of guys I'd look at if I were Grunwald and co. are former Cornell star Ryan Wittman and former VCU PF Jamie Skeen. At 6'7" 210 Wittman's a SF not a 4 but regardless, I believe he's every bit the shooter Novak is, he just needs an NBA team to finally give him a shot to start proving it (my bet is it'll be the Wizards -- his father Randy's the head coach there). This guy might be the best outside shooter in the world not currently playing in the NBA. I think he's that good. And Skeen's an interesting PF prospect that went undrafted outta VCU the season before last. 6'9" 240, he can score in the post, rebound a little bit (much better than Novak) and he really improved his 3-pt shooting his senior yr at VCU (over 40%). He looks a little slow, is definitely not that explosive and doesn't appear to be the most athletic guy out there (it might be a conditioning issue--he looks a little on the thick side) but I think he could be effective off our bench in a reserve role. The man's got a lot of versatility to him, esp. offensively. He's got requisite PF size and a fairly complete inside/outside scoring game..We should invite this guy to summer league.
Some other hidden gems I'd look at to fill a 'stretch 4' role: DaJuan Summers, DeShawn Sims, Brandon Costner, Adrian Thomas (he's pretty much a 3 not a 4 but he's a great shooter--I could picture him filling a Shawne Williams role here for us--better shooter than Shawne probably), Wayne Chism...I'd also continue to encourage and work with Josh Harrellson with his 3-pt shooting. There's some nice untapped potential there with this guy as a perimeter threat. He showed enough of it last yr where I think it's for real. Now it's up to the Knicks to develop that aspect of his game to the fullest.