Pargo has appeared in 3 games for the 76ers since signing a 10 day contract on February 8th, averaging 8 points per game (on 37.5% shooting) to go along with 2.3 rebounds and 2.7 assists per game. Perhaps most impressive -- or most representative of the state of the 76ers backup point guard position -- has been the over 23 minutes per game Pargo has received.
Pargo provides a skill set the other backup point guards the 76ers have tried this year have lacked, mainly the ability to get into the paint and collapse the defense. If Pargo can give the 76ers 10-15 minutes per game as another competent ball handler who isn't a complete non-factor on the offensive end, he will be well worth the pro-rated contract he will receive for the remainder of the year. And at the very least, they don't have to give up any assets in a trade to acquire a competent backup point guard.
Edit: I have received confirmation from the 76ers that the deal is official.