Via Marc Stein of ESPN.com:

Boston has emerged as the hot new entrant in the race for 'Sheed, with my colleague Ric Bucher from ESPN The Magazine crediting Kevin Garnett for not only convincing Celtics personnel chief Danny Ainge to enter the bidding but leading the Celtics' lobbying efforts.

Orlando, San Antonio and Dallas all have strong 'Sheed interest as well...

From Ric Bucher's Twitter page:

KG pleas have worked - Bos is on Sheed's list w/Dal, Orl, SA. Don't count out Lakers, either.

From Ken Berger of CBS Sports:

He also is said to be wary of the strong egos in the Boston locker room, not to mention the fact that the Rajon Rondo situation needs to be resolved.

I just can't picture Wallace in a Celtics uniform. Does he fit a need? Absolutely.

Other contenders will offer more money than the Celtics and for a guy who already has tasted a championship, I think Wallace will follow the cash.

Marc Spears and Frank Dell'Apa throw out some other names:

Possible free agents on their list include: forwards Grant Hill (Phoenix), Antonio McDyess and Rasheed Wallace (Detroit), Jamario Moon (Miami), Lamar Odom (Lakers), Zaza Pachulia (Atlanta), Anthony Parker (Toronto); center Chris Wilcox (New York); and guard Marquis Daniels (Indiana).

The Herald's Mark Murphy has insight on Big Baby's situation:

According to a league source, Davis, as a restricted free agent, will carry a mid-level exception (approximately $5.8 million) price tag into the marketplace. He also qualifies as a so-called “Early Bird” exception free agent (two years with the same team), meaning the Celtics can sign him for up to 175 percent of last season’s salary.

That amount would approximate the mid-level exception. Because of Davis’ Early Bird status, the Celtics could pay that amount without using their mid-level exception.

The question is whether the Celtics are willing to pay that much.

Detroit and Memphis - two teams with cap space - both are expected to court Davis over the next month. The Pistons, depending on who they bring back, are a playoff team. Memphis, attracted to Davis’ promise as a young power forward, isn’t even close.

And that, in turn, is the question facing Davis.

Detroit needs to hire a coach before they court any free agents. And Memphis...is Memphis. My gut (I'm pulling a Gary Tanguay) says the Celtics will get BBD signed.