The Chargers let go of LT, who says he wants to go to a team that has a chance to win a title. Having just won a title, the Saints qualify. I know we would have to let go of some of our own free agents to be able to pick him up (being we're in the top 8), but I still think it's a possible deal; he'd probably cut his pay a bit to get on a championship caliber team (feels good to say that, doesn't it?). The real question is, should and would the Saints do this?
It would be an interesting move, no doubt, but would it make sense? As far as intangibles and locker room interests, most people seem to think that Drew Brees and LT get along pretty well, so no problem there. But the Saints backfield is already reasonably crowded. Pierre Thomas is a hugely underrated, do-it-all RB, and there's still the ever-dangerous Reggie to think about. Plus Bell, an aggressive runner.
The only way that this move works, in my opinion, is if the backfield gets un-crowded. Which probably means Reggie would have to go. Then this move would make sense and allow Payton his three-man backfield that allows for injuries and keeps someone fresh at all times. LT, while not the elite running back he once was, is definitely still a good backup.
All things considered though, is losing Bush and gaining a great backup RB (LT) a reasonable or fair trade?
I say no. Maybe two years ago, I would have acted differently, and it's by no means an obvious answer today, but Bush is getting better in my eyes. What he did against Arizona was magnificent on many levels--not only did he have great production, but he had it in a way which every fan has screamed at him during games (myself included): mostly North-South. He did have some great lateral movement, but for the most part, Bush ran differently (and better) during the postseason. Look at his 10+ yard run in the Superbowl--he made one cut (just one) on an off-tackle run, and followed the blockers N-S. It showed something that I feel he rarely showed at other times in his career--that he has digested the N-S run scheme.
Why is this that important? Well, I think it shows that Bush can still improve, and probably will improve, in the coming years. Compare this to LT, and, well, almost everyone thinks that LT has already had his best years. And Bush is obviously much younger than LT. But....most people thought Darren Sharper was washed up, and look at the season he had.
In any case, I think it would be a gamble. I still feel like keeping Bush would be the better option. However, let me add one caveat. If Bush refuses to lower his contract (which I think is doubtful), then trading him and picking up LT for a much lower price would a good deal. It would save the bank for later or for some of the other players (Brees is due for a pay-raise, remember) and potentially give us some good draft picks.