There is absolutely no way that NO trades Paul in a true talent swap; Paul is too good to be gotten that way. The only way they do it is if NO is desperate to save money and save face in the same move. I don't like the idea of giving up Perk for Chandler as Chandler is really a question mark healthwise, moreso than Perk.
however, NO's worst contract by far is Peja. Thus if NO is desperate, they may do a Paul+Peja for Giddens Ray and Rondo. Rondo will be cheaper than Paul, they save 5.5 million right away and have 22.5 million off the payroll for next season, having learned their lesson that they can't overbid for guys like peja. If that's still not enough, you can throw in Scal, tony and pruitt to take back Posey's long term deal.
So Rondo, Ray, Scal, Tony, Pruitt, for Peja, Paul and Posey would save new Orleans 6 million right away and 34 million the next season plus the extra 7 million the following year from posey. It really allows them to start over based around good, cheaper players like West, Rondo, and Wright.