If it was just Pagnotta I would agree that it's just BS. But Friedman did confirm he heard the same thing. So at a minimum we know Pagnotta isn't just making it up and there is somebody in the know who is saying this was the trade.
That doesn't mean the rumour is 100% true though since the source might be wrong/lying, but Friedman wouldn't have backed it up if it was coming from some crackpot. As an example, if Treliving is the source of this leak, he might be leaking this to make himself look good, and if he's doing that then it's not much of a step to think he might be exaggerating the return. There was that Tampa GM who kept changing the supposed return of the Lecavalier trade to the Habs that got nixed based on who on the Habs were having a good season, this smells a bit like that.
3 1sts and a B prospect is an overpayment, but it's not exactly a crazy one, and might very well have been worth doing for us.