Well, it's 31yo Mike Conley at +32M for the next two and half seasons, or 28yo Rubio at 15M and the chance to re-sign him for about the same next summer (though I'm not sure how interested he will be in re-signing considering he may well be a trade candidate as soon as next season), giving the team more flexibility to strengthen other areas of need. Plus one or two first round picks still under control without the trade, if today's reports are accurate. And probably one or two players that would serve as fillers going to Memphis, but otherwise will be rotation players in the playoffs for Utah, especially in case of injuries.
So, I'm choosing door no. 2. Conley is a much better shooter, he's better off the ball and while he's not as good as Rubio on that end he's an ok defender (his D has been declining lately, and it was a bit overrated during the G&G days with Tony Allen beside him). But to me the shooting / scoring difference between him and Ricky is not worth the money, the lack of flexibility and whatever assets might go with Rubio in the trade for a guy already slightly on the downside coming off a major injury last year.