I'm extremely happy (maybe not ecstatic, but up there) with this trade.
The "baggage" worries me exactly NOT AT ALL. His friend got shot and killed -- with the bullet intended for him. Yeah, I can understand him being depressed and wanting out of Denver. And if anyone ever needed a reminder of how your behavior can affect yourself and others... well, I think he's got the point.
As for the cost:
1) Draft picks: I'm fine with it. Sure, we could use those slots to draft solid players... probably... but the odds of getting one of the best players at their respective position is very low. The odds of blowing at least one of the picks on a marginal-at-best player? Pretty good.
2) Money: Deals can be structured any number of ways to make it look good for the player and, especially, the agent. What we got was a 5 year deal at $50 million with about 50% guaranteed. Compare that to the top 10 (in terms of salary) wide receivers in the league:
http://www.footballoutsiders.com/under-cap/2009/under-cap-top-ten-wide-receivers$10 million a year is on the high side, while the guaranteed percentage is low. In comparison, for example, Fitzgerald got $10 million a year with 80% guaranteed. Calvin Johnson got $9.3 million a year with 51% guaranteed.