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Fair Trade
I would prefer to be on the side getting Larry Walker but I think when you factor in the age of both players and the depth of the FA draft that the deal is close enough to be considered fair. In my mind Simas is a non-factor.
As Ken Grashoff pointed out the deal will help the Hill side this year and the Walker side the years after that. However, Walker is getting up in age and is frequently injured so that has to be considered when evaluating him as well.
P.S. I recently traded Walker and the 11th pick in round #1 of the rookie draft for Ben Grieve and the first pick in round #2 (G4 - 20 team league) That owner turned around and traded Walker for Ruben Mateo (shoot wish I had known he was up for trades) and a draft upgrade.
So there are teams out there that will pay a lot for Walker, but in the grand scheme of things the suggested deal looks close enough to be fair IMHO.