I think we are lucky he hasn't yet shown he can start at PG- otherwise a guy with his skill and athletic ability would demand Ellis Numbers (starting at 8M+.) I'm hoping somehow he signs a KK type deal starting at 4.5M, but all it takes is one interested GM and We'll be paying him the MLE (5.8M.)
I am biased, but I would give him the MLE- although I would rather sign him to a 6 year deal starting at 4.5M.
Either way, Lou has talent and a good head on his shoulders. He will hopefully play on many winning teams and retire an icon- maybe even Andrew Toney status. I would definitely match the MLE- but I am biased because for a while he was about the only thing on this team worth watching.
If Lou somehow can harness his talent and become a PG on a winning team (think of an Isiah like PG) then we would have one of the best bargain contracts at his position.
I am clearly a homer, because I watched these guys when we all thought they where years away. Now I want to see Iguodala, Lou and Thad be Sixers for 10+ years and be there for a prolonged run. I don't even get into parades- I'd be plenty happy with a 8-10 year run of 50-60 win seasons watching players I saw break in the league winning with an exciting Brand of basketball.
BTW- any use of Brand like I just did deserves to be mocked, but it came out unnintentionally.