If transactions automatically occured once rumours hit a certain threshold, Wade Redden would have been an Edmonton Oiler many times over.
In 2007-08, Redden averaged 22:12 minutes per game, playing in all situations (16:39 EV, 1:45 SH, 3:48 PP), and posting 38 points, with 21 of them at even strength.
Despite the magnitude of ice time Redden played, he played the 5th easiest minutes of all Ottawa defensemen. The team scored 3.48 goals/60 minutes, and allowed 3.06. That second number is the one that is concerning- it was the worst one among Ottawa defensemen.
Despite that, I would argue that Redden's demise (note: demise, not decline) has been exaggerated. He is still a very useful puck-moving defenseman, and he scored more points than any other Ottawa defender. He also posted pretty good numbers (6.25 GFON/60) on an excellent powerplay. That said, he is now 31 years old and seems to have hit the downhill slope at a younger age than most players with a similar skill-set.
2006-07 was actually a worse year statistically for Redden, who played the 4th most difficult minutes of Ottawa blue-liners, but who, with a 3.22 GFON/60 and a 3.16 GAON/60, was clearly overworked on a team that went to the Stanley Cup Final. His personal point production (7G-29A-36PTS) was not especially good, although in all fairness he missed 18 games with injury. Another thing to note: over the past three years, Redden has missed a bunch of times with knee, groin, hip, chest and "lower-body" injuries.
In addition to the fact that Redden is declining, his particular skill-set is replicated on the roster in Piktanen, Gilbert, and Grebeshkov. That said, a quick peak at RTSS shows some surprising things. Redden would have ranked 2nd among Oilers defensemen in hits (88), 4th in blocked shots (94), and first in shots (136).
All things considered though, Wade Redden is not a player of interest to the Edmonton Oilers