Trading Schenn for van Riemsdyk is one of those interesting deals that will take several years to properly evaluate. Anyone who tries to declare a winner at this point is full of it.
Both are high first round picks - van Riemsdyk was second overall in 2007, Schenn was fifth overall in 2008. Neither have developed to where their drafted team expected them to be at this point but both have shown flashes of what that might be someday.
The trade also fills some significant needs for both teams. The Flyers need a big physical defenseman to fill in for Chris Pronger. The Leafs just don't have enough size up front. Although van Riemsdyk has been playing left wing, he was originally drafted as a centre. He might just be able to fill the big hole up the middle on their top line.
Schenn has become dispendable because of the development of Jake Gardner but more important he just hasn't developed much in three years on the Leafs blueline. Essentially the Leafs feel they have traded a defenseman on their third pairing for a top 6 forward. But Schenn may very well live up to his potential by escaping the chronically weak defensive team in Toronto. However van Riemsdyk has some risks too. He missed a lot of hockey last season because of a series of injuries and has a bad hip. So he may turn out to be damaged goods.
I still like the trade. Altough van Riemsdyk's stock has fallen slightly he still has more potential than Schenn.