This idea's so crazy it just might work (and it makes me wish I had thought of it). Credit goes to DL at TorontoSportsMedia, go on over and read his well thought out argument but I'll offer a couple thoughts of my own here.
Think about it: the team needs a back up three and someone who'll come cheap. Joey is athletic, he's got good size, he isn't a bad one on one defender (although his team defense is hit and miss), he isn't a bad rebounder, he can hit the 3 and the 15 footer (which he probably takes too many off), and every now and then he'll get to the basket and throw one down. Plus he's cheap. Now I don't know exactly what his value is but I'd rather have Joey Graham at let's say $1.2 mill a year for 3 years, then have Carlos Delfino at $5 mill per year. Delfino is not even really a 3, he's more of a 2 guard. Joey's a good character guy, I assume he gets along with everybody else on the squad. All in all he seems well suited to challenge Devean George for most inconsistent... I mean back up small forward.
The downside to Joey is that there's no upside. Oh sure, he could still improve, he's still young and has all the tools physically, but in all likelihood, he is what he is. They'll be flashes of Good Joey, followed by longer stretches of Not-So-Good Joey. But I think as long as the expectations are realistic, and his role is well defined and he's not asked to do too much, he'll be much less frustrating. Unlike when the Raptors drafted him, we know EXACTLY what we're getting. But what we'd get would fill a need perfectly. I say, bring him back!!!!!!
Plus his name is fun to chant "Jo-ey, Jo-ey, Jo-ey"