Well I don't really view House as considerably better (or even better at all necessarily) than other options out there in free agency, but due to his willingness to accept a small role and ability to fill a need that we have, he was one of my favorite options to sign.
Instead, he's off to join the evil empire on a two year deal with the second year being a player option.
Is this a loss for the Bulls? No, not really I suppose. They didn't seem to have any real desire to sign him or else they would have brought him in awhile ago. Thibodeau worked with him in Boston and obviously has a sound understanding of what House brings to the table on and off the court, and obviously didn't try to get us involved.
For those reasons, I can't say I'm overly disappointed about the lack of signing, but I do think he would have fit well.
Rudy Fernandez (if possible) is still my number one choice of pseudo available players. Roger Mason coming in second.