So I'm not going to complain about Waddell passing on the best offer, they obviously went with their favorite. The one thing under Waddell's control is the timing - did he wait too long to make a trade? Did he go too soon? You can make an argument for either one if you want to.
This post pretty much sums the actual factual stuffs about the trade. That's the best offer (in their minds) they got, so that's about what Jiricek is worth at the moment. Time will tell about the timing.
On a general note, I think people are too quick to dismiss Jiricek as a player, he's 21 and for a big guy with some skating issues, especially a defense man, that is nothing. Maybe the front office isn't happy with his progress, or maybe this trade has nothing to do with that, but bottom line a 21-year old defense man is not a finished product and going "oh well, he showed some talent but didn't happen" is way too early.
That said I do get the vibe maybe they don't have a lot of faith in him, otherwise this trade would seem rushed. If they thought he'll be a stud, his value would just be going up from here and "doing a solid" for a player who has not yet even established themselves as a regular NHLer is just not reason enough for trade.
If Jiricek doesn't pan out well long term, then even what they got will be a great return, but it could also seem like a really stupid trade down the road. Not considering possible off-ice issues, at this point I'd be inclined to still rather take the flyer on Jiricek even though he's been underwhelming so far, but of course that could change if I knew what he's like to work with behind the scenes. Let me put it this way, even with his somewhat lackluster performance on-ice so far, I doubt many people would be very happy about this trade without the perceived drama.