Based on the numerous times i used the draft simulator it depends on who falls. I want to say Waddle fell and I had to decide to take Waddle or take in a haul. This is not unrealistic if a player falls that another team loves. I only do trades that are offered. Most of the time i don't get trade offers and roll whats on the board.
There's definitely some behind the scenes that we don't know about, but my beef with the trade is that we couldn't get anything better than Kelvin Sheppard. And then the guy you drafted busts, which compounds the issue.
We just saw star QBs nearly go scorched earth against their teams, and not get traded. The Colts couldn't have placated a third year edge rusher for one more season? Especially with Freeney leaving? Just wasn't great roster management up front, and then Hughes goes on to be a double digit sack guy while our pass rush was a sore spot.
This is nowhere near as bad as the Trent Richardson trade that would come a few months later, though.