It’s time for a little point v. counter-point here on Hot Stove New York. Yesterday Jay discussed the Knicks’ hiring of Mike D’Antoni to a four-year, $24 million deal and concluded that this is a bad fit and the wrong move for new-sheriff-in-town Donnie Walsh.

But I disagree. I think Walsh has gotten this latest era of Knicks basketball off to a tremendous start, and here’s why.

Long-term planning. In a refreshing breath of fresh air and honesty, Donnie Walsh didn’t arrive for his introductory press conference full of sweet-smelling promises and false hope. He told it like it is. This team is garbage and has no prayer of a quick turn-around. Walsh openly admitted that the Knicks are bracing for the Summer of 2010 when they hope to have cleared enough cap space to make a run at Lebron James, Dwayne Wade, or Chris Bosh. In the meanwhile, the goal of the franchise is to take this mishmosh of a roster and make it mesh, at least to the point where the team no longer embarrasses the city on a nightly basis.

Thus the criticism stemming from D’Antoni’s 26-25 postseason record is borderline ludicrous. Mike D’Antoni averaged 58 wins over his last four seasons coaching Phoenix. His career coaching record stands at 267-172. Those numbers alone should quiet the concerns about whether or not his up-tempo offense is a formula for success in the NBA. Simply qualifying for the postseason would be a step in the right direction for this team. Let’s worry about advancing beyond the Conference Finals when we get there. For a franchise that hasn’t won a title since 1973, this talk of Championships is not only premature, it’s absurd.

Moreover, are we going to give Tim Duncan and the Spurs any credit for standing in D’Antoni’s way all these years, or does the blame simply fall on the coach and his defensive failings?

Speaking of defense. Haven’t I heard that one before? Didn’t Isiah Thomas speak of enforcing a commitment on the defensive end? In his final few months with the team, didn’t Zeke lament the defensive shortcomings of the Frankenstein-frountcourt he himself had assembled? There was another guy who talked about defense a lot while he was here, too. What was his name again? Larry something, I think…

In truth, Lenny Wilkens was the most successful coach during the Isiah Thomas Era and he stressed offense during his time here, perhaps looking around him and realizing that he didn’t have the horses to run any other race.

In that regard, the horses haven’t changed much, though some of the faces may be different. The Knicks still lack a shotblocker in the paint. Their bigs are too slow or too lazy to defend the pick and roll. Their perimeter defense is nonexistent.

You’re telling me Walsh should have brought in a defensive guru like Boston’s Tom Thibodeau to get the most out of this group (Incidentally, does Thibodeau not travel with the team on the road?)? You must be crazy.

And despite cries to the contrary, the Knicks current personnel matters very much in terms of how D’Antoni’s style will work in New York. This team is a solid two seasons away from any sort of cap flexibility and roster maneuverability. Check out the scary numbers for yourself.

Zach Randolph is signed for another three seasons and will earn $17.3 million in the 2010/11 season. Good luck moving that contract. Eddy Curry is somewhat more tradeable, making $10 million this season and $11.3 in 2010/11. Quentin Richardson’s career has crashed and burned with the Knicks, but he’ll still be pulling in roughly $9 mill in each of the next two seasons. And how about Jerome James and Jared Jeffries? Anyone want two bench warmers making over $6 million/year? Bare in mind, these guys can’t even get in the game for a last-place team.

But let’s look at the positives. Believe it or not, there are some fan favorites on this team. David Lee is chief among them. Renaldo Balkman’s cannonball style of basketball has earned himself some fans as well. Nate Robinson’s game seems to swing like a pendulum, but he’s a popular player nonetheless. In his limited minutes toward the end of the season, fans liked what they saw out of Wilson Chandler as well.

The one quality that all of these players have in common is that they rebound the basketball (even little Nate) and they run the floor. Think D’Antoni can find a use for players like that?

And let’s not forget the team’s leading scorer, Jamal Crawford. You tell me, is this a guy best suited for walking the ball up the floor or tearing up and down it?

Hell, maybe QRich isn’t washed up after all. If anyone can find that out, it’d be his coach from Phoenix.

Bottom line. Obviously this is a team and roster in flux, however the reality of the situation is that there are pieces in place here who, like it or not, D’Antoni will have to coach, and the coach’s job will be to make those pieces as effective and competitive as possible.

Walsh is thinking outside the box on this one, and I think he just might have gotten it right.