Roughly an hour ago, Jonathan Giovany of Draft Express tweeted that the Pistons had signed Tracy McGrady to a one-year minimum contract. Shortly thereafter, Joe Dumars refuted the report (via Dave Pemberton), but confirmed that the Pistons are "discussing it."
I know for a fact that the Pistons are discussing it with McGrady in person, as he was seen around town last night with former Rockets teammate and Michigan native Shane Battier.
This would be an interesting addition to a team already stockpiled with wings. If McGrady is significantly healthier than he was a year ago with the Knicks, you can't really argue with the value of him at the league's minimum. However, it would really only make sense roster-speaking if there's other expected moves.
For more analysis, see SB Nation's Detroit Pistons blog, Detroit Bad Boys.