McGrady had a decent season for the Hawks last season and would be a good end-of-bench player for the team that has had its reserve core shredded by free agency. The "Bench Mob" is no more, but they have added capable veterans at multiple positions. McGrady doesn't have much left in the tank, but in limited minutes, he would be a solid addition. The name value helps, but this is a long way from the McGrady who was an MVP candidate eight years ago.
Where McGrady could help the Bulls most is in playmaking. Their offense ends to stagnate considerably when the starters are on the bench, and Kirk Hinrich is more of a game manager. McGrady averaged 12 points, 6 rebounds, and 7 assists per 36 minutes for the Hawks last season.