I actually think this off-season has been pretty fantastic for the Bulls, if you take a step back and think about it. Thus far, neither Philly, Boston, or Toronto have done anything to improve (3 best teams in the East) all while LBJ went west. As far as I'm concerned, the path to the finals is carved with non-elite teams. I recognize Boston is very deep and very good and extremely well coached but I don't think they are an unbeatable dynasty (not yet at least) and I tend to think Philly is overrated at this point (don't get me wrong, I'd love their pieces, but they could very easy never emerge...ala the Wizards with a young Wall, Beal, Porter (they never took that step forward everyone expected).
I also think that helps the Bulls when it comes to pitching other teams FA (well until the NBA changes the playoffs to a seeding of 1-16) as at some point we are going to see some of these stars move east. If the Bulls are a quality team, the pitch of an easier path to finals and overall weaker conference should certainly help. Add in the fact that they'd be contending with really only one historical powerhouse franchise (Boston + of course you always have to contend with power of New York if they ever get a halfway decent nucleus of young players) and it should bode somewhat well. On the west your only major competition (in free agency) will be the Lakers (and possibly Clippers) and while they are massive competition they'll only have room for one max deal and we might be headed into a couple year stretch where we see some elite names come out and "team up" and if we are one of the only options where the guys can team up...we might actually be alright.
I'm putting a somewhat crazy prediction out there of Kyrie and Jimmy Buckets joining the Bulls with them swinging the fences for Anthony Davis as well (after Davis forces a trade and prior to Bulls paying him a supermax).