Is it over already? It seems as if just a few days ago Jason Terry’s three-point attempt bounced off the rim at the end of Game 6 in Dallas, but we’re just 10 days from training camp. With a new season just around the corner, it’s time to take a look back at the off-season and peg the biggest winners and losers.

First, a quick run through the judging criteria: I don’t necessarily judge a team a “winner” just because it spent a lot of money and got some big free agents (Hello, New Orleans Hornets!). In the NBA’s salary-cap landscape it’s infinitely more important to spend wisely than it is to spend frequently, a lesson the Knicks will learn any decade now.

Similarly, I don’t necessarily grade teams too harshly for a “do-nothing” offseason if the alternatives were, say, panic trades or signing guys they don’t need. As Rod Thorn proved two years ago with the Kenyon Martin sign-and-trade, it’s far better to live to fight another day than to use all your bullets in one go.

That said, here’s a quick guide to who stepped up and who stepped back:

WINNERS

MILWAUKEE BUCKS: Milwaukee made two trades, and I wasn’t wild about one of them (dealing Jamaal Magloire to Portland for three mediocrities). However, the Bucks’ other deal was such a scandalous rip-off that they still have to rank near the top of the list. They traded oft-injured, scattered-shot point guard T.J.Ford to Toronto for high-scoring forward Charlie Villaneuva, saving cap money while giving the team’s talent base a huge shot in the arm.

The Bucks made two other solid moves, signing sharpshooter Lynn Greer from Europe and trading Joe Smith to Denver for the more versatile Ruben Patterson, which should help keep them afloat in the increasingly competitive East.

HOUSTON ROCKETS: Houston’s draft-day deal for Shane Battier may benefit Memphis in the long term, because Rudy Gay is a potential stud and Stromile Swift is a productive reserve. But in the present? Fuggedaboutit. Battier is one of the league’s elite defenders, and his ability to space the floor and play both forward spots makes him a perfect complement to T-Mac and Yao.

A less-discussed but nearly as important move was the theft of Kirk Snyder from the Hornets for a conditional second-round draft pick and cash; the wingman should give a big boost to what was a horrid backcourt last season. Greek guard Vasilis Spanoulis should also fortify the attack, and keep an eye on second-round pick Steve Novak — the dude can shoot the lights out. Houston may not be done either, as the still-unsigned Bonzi Wells has been sniffing around the Toyota Center lately.

INDIANA PACERS: The reason things haven’t completely fallen apart in Indy despite all the adversity of the past two seasons is that management has done such a good job of making changes on the fly.

This summer, Indy got Marquis Daniels for the low price of Austin Croshere, signed the vastly underrated Maceo Baston out of Europe for a pittance, and drafted potential-laden forward Shawne Williams. But the big coup was the Pacers’ execution of a last-second sign-and-trade with the Hornets when Peja Stojakovic was about to leave, giving them a big cap exception that they parlayed into Al Harrington. They’re not done building yet, but they’ve made remarkable progress.

CHICAGO BULLS: Hey, Nets fans: Look who just moved ahead of you in the Eastern hierarchy. Obviously the signing of Ben Wallace made the biggest impact, but that alone doesn’t get the Bulls here. I also liked their off-season because they were able to dump Tyson Chandler’s contract without giving up anything of importance, and because they were able to swing two trades on draft day that gave them a power forward with limitless potential (Tyrus Thomas) and the big, defensive-minded guard they’ve been craving (Thabo Sefolosha). As an added plus, scrappy forward Viktor Khryapa was a throw-in to the draftday trade for Thomas and could crack the rotation.

LOSERS

DETROIT PISTONS: You can’t blame them for losing Ben Wallace — Chicago made a huge offer, Detroit was reluctant to match it because it didn’t want to pay luxury tax a year from now after it re-signs Chauncey Billups, and the rest was history.

What you can blame Detroit for was its lack of a backup plan. The Pistons were so sure Wallace would stay that they cleared cap space ahead of time, trading Darko Milicic and Carlos Arroyo to Orlando in February. In doing so, Joe Dumars ignored the timeless warning about counting chickens and unhatched eggs, and now he’s stuck with Nazr Mohammed as his starting center.

SACRAMENTO KINGS: I understood the part about not wanting Bonzi Wells back. I wouldn’t want him back either, especially with his insane contract demands, surly attitude, and a waiting replacement in Kevin Martin.

The part I don’t get is why they used his salary slot to sign a mediocrity like John Salmons. Five years at nearly the full midlevel exception for a guy who could barely stay in Philly’s rotation? And by doing so the Kings gave up a chance to sign-and-trade Wells and get something more lucrative in return. As an added demerit, I though the firing of Rick Adelman was rash: He still had the players’ respect and was winning games.

AREA BASKETBALL FANS: I already ripped the Nets’ off-season a week ago, and New York’s wasn’t exactly a sparkler either. Jared Jeffries will make a mild impact just because the ‘Bockers needed a small forward and a defender, but five years for the full midlevel is a gross extravagance.

And to top it off, the Knicks let Jackie Butler leave for San Antonio rather than match a piddling $7 million contract. They’ll spend that much just on Jerome James’s room service bill during training camp. Nobody realizes this yet, but letting Butler go was almost as bad as the Eddy Curry deal a year ago; this is a potential 20–10 guy.

On a positive note, at least the Knicks’ coach and GM will be on the same page this year. Unfortunately, the page is from a hari-kari tutorial.

PHILADELPHIA 76ERS: I can just imagine being Billy King next week. “Hi, Allen … how was your summer?”

When you spend the off-season trying to trade your best player and can’t get a deal done, it tends to make the first day of training camp a bit awkward.That’s not the Sixers’ only quandary, though. Despite having one of the league’s worst benches, Philly was forced to sit on its hands over the summer due to luxury tax constraints. The only move was an idiotic five-year deal for erratic guard Willie Green — did I mention he has knee problems and can’t shoot? — and the drafting of swingman Rodney Carney. If Carney’s a bust, this team has 25-win potential.