I'd say bringing back Felton for 1/3 of the price of Lin is a good move.
If you want about 1/3 of the player and potential, sure. Granted Lin is technically "untested" and Felton had one good season in NY, but he was completely awful in Portland. Not to mention the fact Lin is marketable... Felton is... yeah, no. Rockets will easily make their money back, they have an Asian player to sell jerseys to Asian people who still like the Rockets because of Yao Ming.
This just seems like the typical boneheaded NY move to me, and effectively kills any desire I had watching the Knicks play (which I did enjoy while Lin was on the court, even cheering for them until Melo came back and screwed up the rhythm).
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Still smilin'
:>