Sure, we must compete now to keep our franchise player. But there's no cap space and a protected 1st does not move the needle to get us a great player. No need to be desparate, we have a good looking team this year. If they are showing well and in contention, they will likely consider moving the 1st at the deadline to try to push us over the hump.
Pinto for 1st + Podz would be an interesting trade, not sure if Ottawa does that. Keep in mind we would have to sign him and we have no cap space, so we'd probably have to attach a Pearson or Myers, and Ottawa is fairly cap strapped so now your talking about paying to offload one of those players with our precious few assets.
I say stand pat and see what happens, hope for a good season and if they have really earned it, trade the pick at the deadline and try to make an impact in the playoffs.