Ohlund for Ryder
This trade makes sense to me. The Canadiens are not going to sign Souray (and why would they). Ohlund could come in at a good price and replace Souray. Ohlund is big and has good offensive / defensive abilities. A better package for less money.
Ryder fits the bill of a scoring winger to play with Morrison and Naslund, and probably could be signed for around what Ohlund makes ($3.5mln). It may take a little more, but he brings 30 goals a year to a team needing offense.
Lupul for Zherdev
Lupul struggled in Edmonton under the high expectations, but the kid can play. He is signed for a few years at a reasonable price. Howson knows him and probably worked with Lowe in the first place in getting him to the Oilers. No expectations equals a rebound for Lupul.
Zherdev is not a Hitchcock type of player. He is signed for similiar money as Lupul and has good upside in the right evironment, especially a team like Edmonton that plays a wide open style.
Redden for Jovanowski
I know that the Coyotes do not want 30-something players making big money, but he has only 1 year left on his contract. The Coyotes could use him as trade bait next year if they are out of the playoffs and get some nice pieces in return. More importantly, they can rid themselves of Jovocop's big contract.
Jovanowski is perfect for Murray. He is big and mean, and brings similiar offensive numbers to the table as Redden. He would patrol the net area with far more aggressiveness than Redden. And, the Senators are willing to pay the money.