While I totally understand your point, I have to disagree. Even though Heatley has demanded this trade, many teams with cap space will line up to get him. This is what will allow Murray to get what he feels is good value for Heater. 50 goal scorers don't grow on trees, after all. This story is only a day old and already I've heard Vancouver, Edmonton, San Jose, Tampa Bay and St Louis may be interested in his services. He can field offers from these teams, then compare each offer and choose what he wants. If a 1st rounder is not added in a deal, expect at least a top-notch prospect (ala Hodgson) to be along with a PP D-man and a top 6 forward
If a top prospect is in need, the Oilers could send Jordan Eberle your way.
I do understand what you are saying regarding Heatley's value as well, but remember back to the Chris Pronger demand out of Edmonton. Every team was rumored to be after him, but no decent offers really came in. There were really only two solid offers that came Edmonton's way, and Florida walked away when Lowe tryed to get Nathan Horton included in the deal (rumors of course, but the offer appeared to be Mike van Ryn, Stephen Weiss, and a pick). Pronger after the 05/06 season was easily a top 5 d-man in this league, with similar market value to what Heatley will demand.
I'm sure everyone will send in an offer for Heatley, but most will probably be washed up/overrated players with big contracts, or players that Ottawa simply doesn't need. You need to think of the cap too. Teams like San Jose, who are rumored to be interested, simply don't have the cap room, unless you are willing to take 12 goal wonderboy Cheechoo, or unless the really will FINALLY rebuild due to playoff incompetence. Vancouver has the cap room, but what do they have to offer in trade? The Sedins and Ohlund are UFA's, despite rumors I can't see them moving Luongo, and what else is there? Nothing that Ottawa really needs, unless Vancouver trades all of their young players like Kesler, Borrows, etc (they won't). Tampa Bay doesn't have the cap room, unless Ottawa takes in an overpriced contract like Ryan Malone. St. Louis would also likely not be a good fit for a trade, as they aren't really looking to trade Eric Johnson, and that is really the only need that St. Louis could fill, again, unless they sold the farm. I still think that you need to consider things in this era, not just the ability of the player. By demanding this trade, Heatley pretty much guaranteed that he will be getting shipped out for very little in return. Ottawa's best hope, as I said before, may be to fill the holes on defense and the second line, and go after a UFA to fill Heatley's spot.