Since Walsh took over the Pacers around 86-87 they have had around 14 winning seasons. He drafted the most well known Pacer of all time, Reggie Miller who turned out too be one of the greatest players.
Drafted:
Rik Smits, Antonio Davis (all star), Dale Davis (all star), Chroshere, Harrington, Brezec, Fred Jones, James Jones.
Trades:
He dealt Jalen Rose, an overpriced one dimensional player who has been less productive every season for two upcoming players who turned into all stars Ron Artest (also DPOY) and Brad Miller. Unfortunetly since we resigned a few players, and Brad turned into a allstar he became greedy and left. But overall it was still a good deal because Ron is cheaper and 10000 times better than Jalen (when on the court

)
Jamaal Tinsley (17 ppg, 4rpg, 7apg) was brought in for a draft pick, hes arguably a top 5 or 10 pg in the league.
He got rid of someone he thought was on the decline in Antonio Davis (he had 1 all star year in Toronto but hasn't done much since) for Jonthan Bender. Bender has shown glimpes of a great player but unfortunetly injuries have held him back. If Bender does become a great player or even just a great spark off the bench this is still a good deal.
He got Jeff Foster, for Vonteego Cummings

and a future first-round pick. Definetly won this trade, Jeff is one of the best hustle players in the league and one of the best rebounders as well.
The biggest transaction of his career next to drafting and being able to keep Reggie Miller was the trade that brought in Jermaine O'neal.
Indiana traded an aging Dale Davis for Jermaine O'neal who is now one of the best players in the league.
Donnie Walsh has made a lot of great draft picks, trades and has kept this team in contention every single year.