San Francisco 49ers quarterback Alex Smith - a player that many Buffalo Bills fans would have liked to see in red, white and blue - has, per a Jay Glazer report, been traded to the Kansas City Chiefs for, per a Tim Kawakami report, a second-round pick in 2013 and a "similar pick" in 2014. You can read more about the trade and fan reactions to it at Arrowhead Pride and Niners Nation, if you so choose.

There are a few immediate take-aways from the report that can be directly applied to the Bills:

• Whether you were a fan of the idea of the Bills acquiring Smith or not, a second-round pick (and potentially another) is a fairly steep price to pay, particularly since the Bills are already down a draft pick this year thanks to their trade for Tarvaris Jackson.
• Smith will probably be getting a contract extension from the Chiefs, as well, given the level of commitment displayed in the reported trade compensation. That would've been difficult for the Bills to pull off given the financial commitment already on the books for Ryan Fitzpatrick.
• The Chiefs, holders of the No. 1 overall pick in the 2013 NFL Draft, will almost certainly pass on Geno Smith at this point. Might he slide all the way to the Bills at No. 8? Or, better yet, might the Bills consider a trade up?

What do you think of the trade, Bills fans? Should the Bills have offered similar compensation, or did the Niners just rob the Chiefs blind?