He's no replacement for Gordon. Pargo was here for a few seasons and didn't beat out anyone for a job nor fill our role as 6th man. He was an ok 4th or 5th guard.
They should look at Antony Parker instead. 1 year for $3M. Perhaps an unguaranteed team option for $4M for next year. He can play and this could be a very valuable contract at the trading deadline.
http://blogs.chicagosports.chicagotribune.com/fullcourtpress/2009/07/bulls-sign-pargo.html Done deal. 1 year @$2M.