Retaining and a 2nd to then eat smiths deal isn't a great deal.

I think Yzerman would be better off adding a 1st or another 2nd and just removing Holl's cap hit entirely than doing this deal.

Holl PDO this year was 104.7 and his stats are still dog $#!t

I think you'd be hard pressed to find a team willing to take that with 2 years left.
I know as a penguins fan I would not want to see this kind of trade. It would just be a signal they have thrown the towel in.