I think in general Suns fans over value Nash, especially when we see trade proposals that suggest PHX getting an All Star or near All Star in return. Nash's age and super specific skill set, combined with him fitting on very few teams (and thus lowering his market value) all conspire to hurt the Suns.
One team that it occurred to me he might fight on is the Pacers. It may seems odd at first blush, but they were 6th in the NBA in pace last year (fitting for their name, eh?). Darren Collison is a nice PG, but Nash even at 38 is leagues better and would make Danny Granger look ridiculous.
I think the Suns should pursue something with a baseline of:
PHX sends:
Nash
Indy sends:
Collison
Jeff Foster
2012 1st round pick, Lottery protected (likely a pick in the mid 20s)
Indy as is is probably the 5th team in the East after Miami, Chicago, NY and Boston. I think getting Nash could push them up to 4th above NY or Boston and give them home court in Rd 1 and maybe they'd make some playoff noise.
It would seem odd for such a young team to acquire an old guy like Nash, but maybe they need a veteran star to push them over the top. It doesn't seem like waiting on their current corp is ever going to blossom into even a Conference Finals appearance sort of team.
Plus you could add in more pieces like Grant Hill going in the trade as well, maybe RoLo (who I have no desire to keep around), whatever. This trade works in the Trade Checker:
PHX Sends:
Nash
Hill
RoLo
Childress
Indy sends:
Collison
Jeff Foster
1st Rounder (2012)
Paul George
Jeff Pendergraph
Suns can sell some Pendy jersey's to ASU die hards like me, they get 2 young pieces in Collison and George to build with going forward (though I don't know if Indy would want to lose both of them). Indy gets RoLo to help with front court depth and back up Hibbert.
Indy's new line up has depth, some decent versatility and a nice mix of youth and veterans:
C Hibbert/Lopez
PF West/Psycho T
SF Granger/Grant Hill
SG Childress/Jones/Stephenson
PG Nash/George Hill
They'd probably need help at the SG, but there's maybe one of the guys in China they can grab or play Granger or Grant Hill at the 2 in spots. Grangers been a pretty good 3 point shooter on his career, and he'd be a tough match up for a lot of shooting guards and playing him along with Hill would make them really rangy and help mask some of Nash's defensive issues.
Suns going forward are younger and have some nice role players and hopefully they hit the lottery big and 2012 Free Agency, but they'd be horrific this year and probably next as well.