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I suppose there's room for that much disagreement as to what value Brandon Morrow has.  This is obviously one of the places where you and I would veer quite a ways off from their proposal.
I value J.J. Hardy quite a bit less, and Morrow quite a bit more, than they do... and probably Lopez and Mark Lowe more.
But it's within the realm of reason -- in an expert Ultra roto league, I'd expect to find a couple of owners who would give me Morrow, Lopez, Wilson* and Mark Lowe in return for Danks, Hardy, and Hudson, even considering Morrow's service time.
And I'd trade them, too.  I think Morrow is within 10, 15 starts of getting on top of his pitches and becoming at least as good as John Danks, and Morrow has much more time left on his club-controls clock.   At the moment Brandon Morrow jells, that 3-for-3 is hari-kiri.  Until he does, though, John Danks' fine pitching makes the 3-for-3 interesting.
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To boot, I'm devoting about $5M more in salary, along with Mark Lowe, in order to make that 3-for-3 when the whole 3-for-3 is about a push to me anyway (considering Morrow's service time remaining).
Mark Lowe is no small commodity to the Mariners.  He and the white-knuckle Aardsma are the only two talented short relievers we have right now...
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My real question about this plan is that if the 3-for-3 is mostly a lateral, zero-net proposition... then your only improvement would be Nick Johnson, if he stays on the field.
Rather keep my 3, spend the $5m savings on even more talent, get Dunn instead of NJ, and swap out Hudson/Wilson for Scutaro.
Be a fun winter, won't it :- )