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It depends on the circumstances
Edmonds had a career year last year which I feel (likely) will never be duplicated. This is obviously one man's opinion.
Nevertheless, I believe that if you take into account the numbers that each man has put forth over the course of their careers, and also take into account that offensive producers at first base are more common than offensive producers at center field, most people will come to the conclusion that Edmonds is a more valuable commodity.
Now -- is Edmonds for Segui something that should be vetoed? Well I have found that a lot of trades depend on the circumstances. If one team has two center fielders and nothing at first base you might be able to make a good case that the trade should be allowed. Although I would think Edmonds might possibly net a better first baseman than Segui -- if you can find a willing partner.
If it were a league based on 2000 stats of course Edmonds could be used at 1B and the trade would look silly.