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http://www.mlbtraderumors.com/2010/11/justin-upton-rumors-thursday.html
So it seems, anyway.
G and Doc are right on.
Z has been consistent: lefties fit at Safeco; he likes guys with excellent eye ratios; he tries to put the RH bats at "glove" positions; he likes "character" guys at the core of the team -- he hand-picked Ackley and Smoak to be Exhibits A and B.  Upton -- not so much on any of those counts.  I don't see Dust-n-Smoak in a trade scenario at all.
Pineda is a different kettle of fish.  He's been injured once, hasn't actually proven anything at the MLB level, and can be more-or-less replaced by Gerrit Cole or Matt Purke (who are both a year younger and probably almost comparable to Pineda right now).
We have a few of RH hitters at non-glove positions -- Chavez, Liddi and Poythress -- that don't fit Z's template, and some LH hitters that could be moved (Saunders, Mangini, Tenbrink).
And certainly a surplus of potential bullpen power arms -- Aardmsa on down.
I don't think Z sees any value in Tui or Halman, but he likes to find other GMs who see value where he doesn't (e.g., Aumont).  He's also been "talking up" Peguero, which, to me, could only relate to trying to puff up his trade value.
So I could see a four-player package that doesn't hurt much, in the same way that the Lee-coming-in trade didn't hurt much.