I think the signing of Ramon Sessions also showed they somewhat had given up on signing Rubio. So they gave away Foye & Mike Miller for nothing....
You're underestimating the level of trade bait this kid's rights are going to be in a couple years, when the buyout isn't an issue and is affordable. As long as he keeps playing at a high level and improving (which he should, he's only 19 now), he's going to bring us a valuable piece, most likely.
I agree a lot of teams tried to deal up to acquire Rubio. I'm not sure what the details are of the contract he signed overseas, but there might be provisions in there for Rubio to opt out early. I'd imagine teams will overpay for his draft rights.
The buyout is very affordable for NBA teams after next season is complete. At that point, he'll be able to come into the NBA with no problem. I think, prior to the 2011 draft, teams are going to go nuts over the idea of getting him on draft night.