I like West, but I would prioritize Stuckey using the MMLE. Plays both guard spots and can shoot the 3 pt. If you are already paying Varejao $10M per year (and yes it is a ridiculous contract), he needs to earn the money; his and West's games are too similar to de-prioritize the guard position. If Varejao is truly ready to retire, that's a different matter.
Use the vet minimum for additional front court help; IMO, James Jones earned a re-up if no one better can be had. I would also consider bringing back Perkins at the vet minimum for the enforcer role.
I still believe the purpose of the Haywood contract was to hedge against Love leaving; with the level of tax they will be paying, it doesn't seem likely they will use it unless absolutely necessary, or an opportunity too good to be true like, say, a Morris/Tucker deal.
So if CLE could get Morris with Haywood, they would not need West, but could meet a priority need by signing Stuckey with the exception. Haywood trade or not, I think Stuckey is the higher need compared to West.