Since the Payton deal actually happened, I'm a little more willing to post crazy rumors that I see on the Internet. So here's the latest:
Payton, Davis and the LA #1 pick for Peja and a #2
I can't find a link to the source, but there it is.
As far as the reasoning, most should know by now that Peja wants out of Sactown but Bird has said that there is nothing going on between Indiana and Sacramento, so its possible the Peja for Artest rumor is dead. Peja has stated that he'd like to play for the Bulls, so I wouldn't rule them out.
Update: Since the source was not who I thought it was, I'm giving this rumor a vote of "no confidence" and moving on.
I'll also keep my ears open for Shareef Abdur-Rahim rumors. There are several different senarios that would work cap-wise, it all depends on what the Blazers want in return.
Note: According to Larry Coon, if the Celtics were to trade Payton in a package deal, the trade would have to take place 60 days after the L.A. trade became official. If he were traded by himself, it could happen at any time.