I honestly don't think that the PSD threat has any chance of eventuating.
Besides, it's probably not the best time to piss the AFL head honchos off again. They just stopped going in dry on us and have actually favored us a bit lately (Tops up as delisted free agents). We all know how it will play out. Think Buddy->SYD, COLA removal.
EDIT: If we get him, it won't be through the PSD, it will be through a trade, one where I hope we give them as little as possible - just the Hibberd pick.
That the AFL will allow the top ups to become de-listed free agents has nothing to do with Essendon. It's pressure from the AFLPA who, for once, have rightly pointed out that requiring these players to enter the draft is just going to make it harder for them to continue careers.
As for the COLA comparison, I would not be too worried as long as we can make a fair case. It's ultimately a matter for GC whether it will refuse to trade a player. It's surreal to think that they have already threatened to make him enter the draft. They can, again, deal with their own incompetence.