I can't really find the article, and I must say, I wouldn't have considered it unless they were actual reports, but lets say for a minute it does happen...
We would have to trade Batum, Deng played 39 minutes per last year and we also drafted Babbit, Batum's value is very high around the league. I like the idea of Darren Collisson, but from what I'm seeing on RealGM trade-checker he, unlike Paul, is on a very small contract and we could do a Batum-for-him straight up. Yes, we could add Miller and bring back Posey but I think it's a good trade for New-Orleans even without the added players and for us, it would be foolish to add them, when Miller is clearly the better player - currently - and backup PG (Armon Johnson?) that could be filled by Miller is a weaker position than backup SF (Dante? Babbit?) that would be filled by Posey.
If we made the deals I suggested and stayed put:
Collison, Miller
Roy, Rudy
Deng, Dante, Babitt
LMA, Howard, Camby (I think it's possible Camby could get some minutes at PF and that it's worth trying)
Oden, Camby, Pendergraph
Solid up front, with a short rotation of LMA, Oden, Camby - with Howard, Pendergraph getting some minutes/being used as insurance. The SF position is our weakest but it's MUCH better than if we traded the 4 players for Paul and were left with Posey as starting SF, in the best case scenario. I'm guessing Rudy would be getting some minutes behind Deng, as well. In the back-court, we have the biggest upgrade. Pryzbilla, in all honesty, SHOULD be traded, Batum for Deng is a downgrade - IMO, but Bayless for Colisson could be a bigger upgrade.