I'm pretty sure it's a conditional 3rd/4th next year and our 4th this year. Although, I probably wouldn't want to trade next year's 2nd because, if all goes well with Vilma, we would be left with only one day 1 pick.
Here's a link where it does indeed mention that it could be a third or second round pick in 2009. Of course, with no idea what the incentives are beyond playing time and Vilma re-signing we don't know of the other qualifiers. I for one hope that he plays every defensive snap and wins the NFL Defensive MVP next season!:9:
Now, the thing that may trigger that 2nd round could be something like he makes the pro bowl or NFL Defensive MVP or a myriad of other things......
All that said, it's not a 2nd rounder yet, so if the Saints were to trade that pick, then whatever team that holds the pick would have to be prepared to lose that pick in the event Vilma meets the qualifiers....which could be a deal killer.....or maybe that team would be fine losing it in 2009 and getting a 2010 2nd round pick.