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I do think it's Delmon Young considering he's been rumored in other places... and whose two most similar by age comps are Tris Speaker and Carl Yastrzemski. I'm not big on trading Morrow under any circumstances, and I think we're much thinner on SP depth than people realize. However, Young is one of the few young stars who is worth rolling the dice on. If you're going through the top handful of under-25 position players to build around, he's definitely in the discussion.
Washburn, to me, is nothing more than an innings eater at this point. The M's #6 starter in place of Washburn should have no noticeable difference. If this trade allows you to replace him with Bobby Abreu, then that's a major plus.