Update: The Bucks have confirmed the signing.
The Journal-Sentinel is reporting that the Bucks are on the verge of signing former Nets combo guard Keyon Dooling to a two-year contract, thus filling the final major hole on the Bucks roster. I'd have to guess the deal would be for the full bi-annual exception ($2.08 million in 10/11, $2.25 million in 11/12), which is the most the Bucks could offer him outside of a sign-and-trade.
Dooling's neither young nor particularly good, but that's besides the point. Considering the Bucks' limited cap flexibility, the inflated free agent market, and the lack of quality backups still available, nabbing the 30-year-old Dooling on a cheap, short-term deal seems like something of a best case scenario for John Hammond and company. Granted, it's weird to type the words "Keyon Dooling" and "best case scenario" in the same sentence, but the Bucks weren't exactly in a good position when it came to adding backcourt depth. Seriously, take the list of backup PGs still on the market. Signing Dooling also seems to validate the Bucks' decision to let Luke Ridnour walk for the somewhat lengthy but not outrageous four year, $16 million deal he settled for with Minnesota.
Dooling is a bigger and better defender than Ridnour while bringing comparable accuracy from three point range, the combination of which makes him a clean fit for a revamped Bucks team that last year relied heavily on Ridnour's uncharacteristically excellent perimeter shooting. There's no doubt Ridnour was the more productive player a year ago, but I doubt he'll repeat that level of productivity this year--much less over a four year contract. I won't claim Dooling will be the better player, but for half the price and half the length, there's also less downside.