So if we do a S&T for Wade, Durant, or anyone for that matter, we are locked into having to be at about $112 million hard cap(also known as the luxury tax apron, set $4 million above the luxury tax line which is $108 million this year). And that figure would have to be achieved immediately to execute the S&T, we couldn't do the deal be way over that number and then slowly unload contracts.
If we got Wade for roughly 11 million per year, the combined salaries of LBJ, KI, KL, TT, Wade, and one of Channing or Shump would be close to 112 right there. You'd have to trade one of Channing or Shump, plus renounce the cap holds and rights to Delly, JR, and Moz.
Now, doing something that drastic would be worth it for Durant.
But for 34 year old Dwayne Wade?
And yes, there are iterations of the Wade scenario you could work around(ie. trade Shump and Frye to cap space teams and keep JR, etc) but you would still be locked in to about $112 million(the luxury tax apron) and would essentially have a 6 man team + minimum salary guys filling out the roster.
So while it is absolutely possible, one has to question if it would be worthwhile for Dwayne Wade. And keep in mind, this is a guy who in a compromise took $20 million this past season and had an excellent season on the court. So even getting him down to $11 million per year would be quite a feat given that there will likely be teams willing to go much higher. Now would those teams have his best friend LBJ and the best shot at a title? No. But pride still comes in to play, so I'm just not sure this would work on either end.