I'd do this deal, yes. Paul + Humphries + Waiver Wire crap is greater than Bosh + Lawson + Young.
Your FG% will take a hit, but since this is H2H and the rest of your team doesn't appear to be strong (at least, not intially with guys like Jennings, Nelson and Bargnani as a big man) at FG% anyway, so it just might be a good H2H strategy as well. That's like a double bonus. The best player in the deal AND improves your H2H strategy.
You might has well have him give you Danny Granger too. You can then decided whether to try to include Granger in a subsequent deal, hold onto him for the next 2 or 3 months or whether to drop him outright.
Your points drop with this trade since Paul isn't scoring quite like he has in the past, so you may look for a modest scorer of the wire to even this out for you (ala Afflalo, Hamilton, Ben Gordon, even G. Henderson returning from injury might work out).
Quite honestly, you may be able to hold your own having both Paul and Durant until such time Granger returns. That could be deadly (in a good way) during the playoff timeframe.