That would be a steal for Detroit.
The Leafs don't want Weiss, and would prefer Tartar, or Nyquist instead.
Toronto should not be able to obtain close to equal value player/talent wise for Phaneuf. This would be less of a trade for Phanuef and more of a trade for Phaneuf's contract. Phaneuf himself has value, but his contract is crap. I think they are going to have to take some crap to get rid of their crap.
I'm sure they would prefer Tatar or Nyquist (who wouldn't?). But, there's no way they should be able to obtain that kind of return for him... from anyone.
I wouldn't even do Weiss/Kindl/Smith for him. Maybe...
Detroit gets Phaneuf
Toronto gets 1) Weiss, 2) Kindl, 3) Ouellet OR Jensen OR a 2nd round pick... and Toronto retains 1/7 of Phaneuf's pay.