Trade Randy Moss for draft picks.
Trade 2nd and 4th for Matt Schaub. That would be a acceptable value to the Falcons. In an article with Pat Kirwan, here is what was in it;
The Falcons will not give the guy away, but after evaluating the 2007 prospects' performances, Schaub probably is no worse than third in this class, and for a few teams, he's probably second. As one personnel director with an interest in a quarterback said, "The Falcons know that Schaub's value is probably close to the 15th pick in the first round, but putting a deal together that works for all parties is the tricky part."
So Smith's purposed trade makes sense in terms of value. Yet the team would still have picks from the Moss trade.
Take Calvin Johnson with the 1st pick.
QB - Matt Schaub
RB - Lamont Jordan / Dominic Rhodes
WR - Calvin Johnson / Jerry Porter / Ronald Curry
That's the look of a much better offense than last year. Especially if the O-Line plays better in their new roles. I personally think that would be great move for the team. A veteran QB, who knows your OC, with a trio of good receivers, a solid 1-2 RB tandem.