A good article courtesy of Tim Chisholm over at TSN:

The first is dealing with the Calderon-Turkoglu redundancy. For the record, I don't hate Calderon or wish him ill, and I was in full support of re-signing him in 2008. At the time the deal made sense given the roster and the direction of the club. Also, given the information available at that time I'd support that decision again today. The problem is that the roster that surrounds him now doesn't suit him as a player. In fact, it only makes his defensive woes more hazardous because there are no defenders to cover his tracks and his skill set was replicated this summer with the Hedo signing. The Raptors have won two of the three games they've played since Calderon has returned to the lineup from injury, which proves he isn't a disastrous liability, but Hedo's reduced ball-handling responsibility in that time has clearly caused regression in his game and in his fit with the team. That means that one of them is going to have to move out to make way for the other.
If the Raptors can find a taker for Hedo's deal without killing the roster in the process they should go for it. However, what possible deal could that be? It's unlikely that Portland would want him after he spurned them this summer. Orlando's woes don't seem dire enough to get them to reverse their decision to not pay him $10-million-plus per year. Teams without playmaking point guards (Charlotte, Detroit, Houston, Indiana, Philadelphia and Washington) are almost all rebuilding clubs who'd have zero interest in moving good players out for a 30-year-old, unathletic small forward. Plus, when it comes right down to it, he is the team's best and most natural playmaker, and he has proven it when he has been given some control over the offence.
That means that Calderon is probably not going to last the season in Toronto. The club has too many other holes to fill to keep him around and he plays a position too in demand to let rot on the bench. Heck, the fact of the matter is he's too good to be a reserve on this iteration of the ballclub, where Jack and Turkoglu handily covered his absence in December (I also promise to make this the last time I write about this issue).

I've said it before BC has gotta decide which one of these guys he wants to keep.