To be honest, and call me crazy if necessary, but I wasn't into all the hype for Ray. Granted, his first 2 years were good, borderline excellent, with ERA's of 2.66 and 2.73 in 05 and 06. Last year however, his ERA ballooned to 4.43, and only had 16 saves. That and the fact that he didn't pitch at all last year makes me wonder about him.
I'm in no way giving up on Ray or soliciting trading him or anything, but the O's can use the depth of good pitching, so unless they can get a piece that they actually need, I don't see a purpose/reason to trade Sherrill, regardless of Ray's resurgance in 09.