No idea on the pick compensation and whether it is good or not, but here's a summary:

The Pelicans trade Ingram, McCollum and picks in order to get Murray and Allen, probably their two biggest positions of need. They are accepting Gabe Vincent in addition to help match salaries.

Cleveland, assuming they have to break up Garland/Mitchell, do so, getting 2 firsts in exchange for Garland and Allen, along with Brandon Ingram, who takes Garland's spot in the lineup, and Clint Capela, a reasonable replacement for Allen on a shorter contract. Since the Allen to Capela trade off is a downgrade, they're getting two firsts.

LA is getting Trae Young in exchange for sending out Hachimura, Russell and Gabe Vincent. I don't know if I would do this trade if I was them, but there has been some indication he may end up there, and this gets him there without having to give up any key piece, other than Russell, who may end up leaving anyway.

The Hawks get rid of Young/Murray, who weren't working together. They get Garland, McCollum and Hachimura plus a first, and some salary cap relief. Maybe they would need another pick, I don't know.

Orlando potentially may be interested in Russell, this allows them to just absorb him into cap space for a year, I believe they retain his bird rights as a result, and all they have to give up is a pick in this year's draft, which is supposedly very bad.