Yes, it's been done a few times in the past too, though I know you weren't in the league. Definitely no rule against it though. As a reminder, you can also trade salary slated for future years.
Speaking of picks, I posted all the ones I could find in the thread in the "2012 Trades/Notes" tab on the main google spreadsheet page.
Link here. Please check it and post any deals that may have been overlooked.