Carmelo Anthony has been publicly unhappy in Denver and there were rumors Anthony and Chris Paul would join A'mare Stoudamire in New York to form a "big 3" to compete with Miami. Apparently Denver isn't interested in anything the Knicks have to offer, so New Jersey seems to be the likely home for Carmelo, especially with the deep pockets of Russian zillionaire owner Mikhail Prokhorov.
The Warriors nation would love to see this trade happen. After seeing Stoudamire go to the Knicks and Carlos Boozer going to the Bulls, this could be another shift in power from the West to the Eastern Conference, a shift that certainly behooves the Warriors along with some other teams.
If the Nuggets lose Anthony and Billups, they will likely miss the playoffs. Also, the Suns are a team on the decline after trading away Jason Richardson and Hedo Turkoglu as well as the questionable health of Steve Nash. The New Orleans Hornets are also not a lock to be in the playoffs. If the Nuggets aren't in, that really opens up the sixth, seventh, and eighth spots in the West. That means the Hornets, Blazers, Rockets, Grizzlies, Suns, Warriors, and Clippers will all compete for those last three spots.
If the Warriors can take advantage of this home stand that goes through January and into early February, they can take advantage of the Western Conference becoming slightly weaker. That's if the 'Melo deal actually goes down.