It seems that of the two extremes - blow it up/rebuild/refresh, and acquire valuable pieces to attempt another run - Wilson was partially successful at each, therefore unsuccessful at both. Looking at the big picture, though, our roster is better now than it was two weeks ago (addition by subtraction) and we have netted a bucket of picks in the process
By being unsuccessful at each of the extremes, he's pretty much done the best thing possible. He got rid of players that had diminishing value and were proving to be obstacles in the path of victory, including one guy who was going to be a free agent and wanted more money to possible continue to contribute nothing positive (literally, he had fewer goals than Martin Brodeur this season), and turned them into decent draft picks for this year (and possibly one for next).
Handzus, Clowe, and Murray were being played as essential players, whether or not they should have been treated as such. Hannan is a 7th (or 8th) defenseman, and nothing more, and Torres is another energy guy to allow someone with more scoring touch to not have to play that defensive forward position.
The guys who were traded were getting minutes that could have otherwise gone to youngsters, and now they're picks. And the two picks that were traded, were dealt for guys who are only good enough to play behind the youngsters who just got promotions up the depth chart.