According to A. Sherrod Blakely at MLive and WDFN, the deal is done.
Darko and Arroyo for Kelvin Cato and a top-5 protected pick in 2007 (the pick is unprotected thereafter).
Expect a number of people to rail against this trade (including the ever-insufferable Eric Pate on WDFN earlier tonight) citing the possibility that Orlando could improve next season, thus cheapening the draft pick. Of course, accepting a pick that far into the future is a risk, and the chances of mediocrity are greater than the chances of getting lucky (as the Pistons did in 2003). I personally don't foresee Orlando making any great leaps next season--they'll be relying mostly upon youth, stumbling around with the other lottery contenders.
But that being said, I haven't really decided where I fall on this deal (aside from agreeing that Darko needed to be dealt in order to experience any success). I'll reserve judgment on the deal until I see who the backup point guard is come playoff time, and that answer looks to be coming soon. Joe D's response to the trade in the Detroit News:
"Right now, I have to get to work on finding another back-up point guard," Dumars said.
So stay tuned for another announcement.
Deal is done; Darko is gone [Detroit News]