Go for it. Obviously try to package Schaub and hold Brees, but if you need to send Brees to get AP, that works too. You would not be out of line offering Brees straight up for AP. In fact, that's the option I'd give him - either Brees alone or Schaub plus Mendy. He'll likely take the latter, which gives you Brees, AP, Rice, Wayne, Nicks, Dez as your top 6. Not bad at all.
oh yea i would definatly do this trade.. your getting alot of value for your players.. Hes definatly overvalueing collie, and in return your getting the #2 passing option in dez bryant who will be very solid this season just as collie is.. as much as i love megatron, getting reggie wayne would be huge and brees is head and shoulders above thomas.
Doing that deal and then turning around and trading schaub or brees (id prefer to keep brees) .. with mendenhall for a AP, CJ running back would make your team unbeatable.. I love this deal for you and even tho in your 2nd deal of giving a 2 for 1 you would be giving up more value than recieving but it stacks your starting lineup which you want.