That's all the story that was just posted on AJC.com said:
I'll post more here as we learn what we got in return (if anything).
Update [2008-3-26 9:40:0 by gondeee]:
According to the Pittsburgh Post-Gazette we swapped Yates for pitching prospect Todd Redmond.
He looks like an interesting middling starting pitching prospect. Over at Minor League Ball John Sickels gave him a grade of C this year, but last year he gave him a grade of C+ and ranked him as the seventh best prospect in the Pittsburgh organization (by the way, Lillibridge was ranked 3rd that year).
It looks like we got a young arm with decent to good upside. Nice trade if for no other reason than we were able to pare off Yates from the roster.
Here is a link to his minor league stats.
Update [2008-3-26 9:50:46 by gondeee]:
Baseball America rated him as having the best control in the Pirates organization. In 2007 they ranked him as the ninth best prospect in the Pirates system. This little tidbit is from a BA Pirates Organizational Report filed at the end of the 2006 season:
Redmond's showing in the South Atlantic League came after he led the New York-Penn League with a 1.98 ERA in 73 innings in 2005 for short-season Williamsport. Not bad for a 39th-round pick from St. Petersburg (Fla.) Community College in 2004 who was signed as a draft-and-follow.
Redmond, 21, throws a fastball, curveball and changeup. Though none are dominant pitches, he has outstanding command, carying a 148-33 strikeout-walk ratio in 160 innings this season.
We seem to have done a good job of snagging some good prospects from a Pirates organization that doesn't have many prospects. It looks like people soured on Redmond because he had an off-year last year. If he can rebound to his 05 or 06 numbers then we got a really nice young arm in return for a reliever we were probably going to release anyway.