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The Rumors Begin: Jets/Chiefs Off Season Trade?

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Hat tips to both KC Chiefs Fanatic and Arrowhead Addict, who were on this way before I was.

How does this one measure up on the trade value chart?

JetNation.com has learned that the Jets have had conversations with the Kansas City Chiefs about a blockbuster trade. The Jets would send both Chad Pennington and Laveranues Coles to Kansas City in exchange for the Chiefs 1st round pick. The Jets would also receive a 4th rounder and a possible 2nd day pick in the 2009 draft. The 2009 pick would be tied in some way to performance. We are told that a deal is essentially in place and it will be announced in the off-season.
Coles did have 91 catches last season but I can't see the Chiefs making this trade. We'd be trading our first round pick, a potentially high first round pick, for a backup QB and a solid no. 2 receiver. Seems to me like we can find a better deal from some other team. Are people obsessed with Jets/Chiefs trade talk because of Herm's history there or what?