Here are the trade partners I would target if Toronto with an eye on the their multiple 1st round draft picks:
Chicago - 2012 first round draft pick from Charlotte (top 14/12/10/8 protected and finally unprotected in 2016)
Houston - 2011 swap and 2012 1st round pick from New York (top 5 protected through 2015)
LAC - 2011 first round pick from Minnesota (2012 unprotected)
MIN - No draft pick of their own but Utah (16/14/12 protected through 2013) and Memphis (14/12/10/9/9 protected through 2016)
New Jersey - 2012 pick from GSW (top 7/7/6 protected through 2015)
OKC - 2012 LAC 1st round pick (top 10 protected through 2015 and unprotected in 2016).
POR - 2011 NOH pick (top 7/8/8/8 protected through 2014)
Rationale is listed below:
I am a huge fan of the trade machine and I have posted many trades that I think are realistic but of course will never happen.
No trade this time - just trade partners.
IMO the Raps have a good core. With the exception of picking up players such as Bayless (rookie contract, lots of potential) in trades, I am starting to feel more and more the Raptors should stand pat and work with what they have and develop through the draft. The reason why is because one day this core will all be looking for pay raises similar to what OKC is going through now. Taking on a guy like AI does nothing to help this down the road especially with rookie deals ending and a possible hard cap on the horizon.
With that said, the Raptors do have a lot of flexibility to facilitate trades through remaining TPE ($12.2M) and Peja, Wright, Evans expiring contracts ($23M total).
This flexibility could help a playoff team like Chicago or OKC land a player they otherwise would not have been able to. These teams are to the point where they have a young/talented nucleus and the time to start winning is now.
The flexibility could also help a team like LAC unload 'bad' contracts.
I might come up with some trades with these teams over the next few days if anything pops to mind.
All draft pick info from here: http://realgm.com/src_future_draftpicks.php
Another thing to keep in mind might be other teams with big expiring contracts of very useful players to playoff teams:
Jason Richardson ($14M), Tayshaun Prince ($11M), Chauncey Billups ($3.75M buyoutnext year and $!3M this year), Carmelo ($17M ETO), Peja ($15M), Troy Murphy ($11M), Pryzbilla ($7M), Andre MIller ($7M team opt), Battier ($7M), Dunleavy ($11M), Jamal Crawford ($10M), Yao MIng ($17M), TJ Ford ($8.5M), Z-Bo ($17M), Michael Redd ($18M), Eddy Curry ($11M), Dalembert ($13M), Kirilenko ($17M).