Timberwolves get to dump Wally's contract ($10,000,000 - $11,000,000 - $12,000,000 - $13,000,000) and get back a decent player in Davis at a cheaper price ($5,908,500 - $6,360,000 - $6,817,000).
They take back Blount's contract ($5,512,500 - $6,125,000 - $6,737,500 - $7,350,000 - $7,962,500) but don't have to worry about overpaying for Olowokandi or losing him for nothing.
Boston gets to dump Blount's contract but not sure if they plan to resign Olowokandi or let him walk but they take on Wally's contract at the same time.
It looks more like a salary dump for both teams.
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