I'm thinking HBK, Orton and Christian go to Smackdown and Haas, Reigns and Heidenreich to RAW. If the draft is after Backlash and Jericho loses to Benjamin, I could see him going to Smackdown.
I think Dave Meltzer mentioned several OVW guys will be called up soon, so the draft may be half (3 for 3) current guys and half new guys. That would at least make it feel more like a draft than a trade.
Gah. Everyone keeps babbling about how Hogan/McMahon or the Undertaker tag match is going to stink things up for Mania. I say get over it. It's Wrestlemania. It symbolizes everything Vince and the WWE is.