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Yes, I like the McLouth trade.
The Braves needed to make that trade, because their farm was very deep with pitchers and long-term specs -- but they had NOTHING even remotely close to ready for primetime for the OF that wasn't already up and struggling.  And the Braves woes this year can be tracked back mostly to a horribly underachieving outfield.
Part of what makes me twitch at all the pushing from the "big bat" crowd these days is that the majority of the push is for OF help.  Okay, Wlad and Endy are weak.  But, the INFIELD is the black hole of offensive production this year, (outside of Branyan).  Endy at least gave good glove.  Meanwhile, the positions most readily stocked in the Mariner farm system at this moment are OFs.  You've got Ichiro as a fixture for awhile, FGut just coming into his own.  If you trade for a LF *today*, then you've basically cut off your BEST farm prospects for what - 3 years?  5 maybe?
Because the moment you shut your OWN door on the OF prospects, then everyone else KNOWS that they are of less value to you - and they will offer less for them in return. 
The best trade daydream I've seen thus far is fishing for Tejada.  While I'm not big on Tejada, I'm REALLY down on Yuni, and know that the Mariner farm is devoid of middle infield help during the Obama Administration.