Few thoughts on Schmaltz.
1. Ideally he'd not be on the first line, but he's among the most talented on the team offensively and it's more important for guys like Cooley and Guenther to be sheltered so they can develop properly. He has some skills like zone entry and stripping pucks that are probably 1st line quality, but his defensive zone play and needing some one to take faceoffs brings him down overall to a lower line.
2. He definitely has synergy with Keller. Could he produce elsewhere in the line-up? He might be able to produce away from Keller if he was down in the line-up and we had a legitimate 1st line ahead of him.
3. Timing to move on. Is it smarter to hang onto him to protect the future wave's development or is the potential return better? How long does the window on getting that kind of return last? He has 2 full seasons after this for reference, and contenders often would go for a player like this one year from now if they want him to get 2 stabs at a playoff run. Moving him sooner would need to be a good return or return NHL player(s).
4. Injury concerns. He's missed only 3 games or so this season. There was talk they'd undertaken some steps to keep him healthy in the offseason. Perhaps this is still a work in progress, but that seems like a good showing so far. It's possible he's been healthy enough to play, but is still playing through something. If he keeps improving, can that help make him a more consistent contributor?
I still like him as a player and could see the team trying to roll a solid 3 lines once more prospects pan out. There could be a role for him, but there might be a market for him that Armstrong capitalizes on to make the team better. I'm pretty content with whichever direction they go with him and don't see there being a rush to trade him. Just wait for the right timing if it ever does appear.