After the early free agency WR binge things aren't looking good in St. Louis at that position. The best options at WR are re-signing Lloyd (not a bad option but doubt he comes back) or else looking to guys like Manningham and... gulp... Braylon Edwards. With our current pick at #6 overall there really hasn't been much discussion regarding signing Mike Wallace who is tendered at a first round pick level. Most agree that price is too much to pay.
Word out of New England is the Patriots would like to get a pick inside the top ten to make a significant improvement to their defense. Apparently they're willing to part with both their first round picks to make the move. If they were to move up all the way to #6 would they consider adding more than just the two firsts? Perhaps. But that's not the point here. The point here is that if the Rams were to trade pick #6 to New England for both their late first round picks they could use one of them to sign Mike Wallace AND still have another pick in the first round. This would allow St. Louis to sign Mike Wallace to a contract that could not be matched by Pittsburgh and then also use the other first round pick to fill other needs. Sounds great right? But it's still a bit risky.
There are two risks:
1) Wallace doesn't want to play in St. Louis. You'd assume Snead talks to Wallace prior to trading with NE.
2) Pittsburgh matches the offer. We'd want to make sure the contract we offer is significant enough to scare Pittsburgh away otherwise we're stuck with New England's picks. Maybe that isn't too bad but we aren't getting the impact player we would at #6.
I think the risk is easily worth the reward though.