Is this frustrating? Of course. You should be angry, but what can we do?
In fact we really don't even know much more about the situation, since the Commercial Appeal is hardly getting their nose into the negotiations, if any negotiations are even occurring. It's pretty hard to say at this point, since both sides appeared completely fed up with each other.
I'm almost certain that at this point every 1st round draft pick has signed with their respective team, as Cole Aldrich recently got his deal. Well, every draft pick but Greivis Vasquez, the Grizz's other first rounder.
Rookies are typically the best deals in the league in terms of production per dollar, and they're also unexposed to the brutal sports business. I guess Henry and Vasquez are being thrown into the fire early by owner Michael Heisley, but that hardly bodes well for their future sentiments for the franchise.