UPDATE:
The 2nd round draft pick (2012) is the Washington Capitals (cheer against Washington here on out).
Foster and Veilleux are UFA's at the end of this season (Houston, we have replacements).
3rd round draft pick (2013) is conditional meaning that we get it if the Devils reach the Eastern Conference Finals (Go Devils; highly unlikely in my opinion without further significant moves by Uncle Lou).
Perhaps most importantly, the Wild are off the hook for Zidlicky's $4 Million contract hit next year in the last year of his contract. In return, the Wild take on $3.1 Million plus in New Jersey salary but, again, Foster and Vielleux are UFA's at the end of this season
So, essentially, we trade Zidlicky for a 2nd round draft pick and Palmieri (3rd/4th line player with only a little potential according to Devils fans) and the Wild shed a $4 Million salary obligation next year, thus freeing up money for free agency this summer.