I would not advocate a trade for Love unless he is willing to sign an extension and he has made it very clear that he will not. If he were obviously, the deal PHX would have to offer would be significant but say PHX is interested in a deal without an extension in place, it should not be for assets that are expected to be part of PHX's long term plans (ie multiple lottery picks). Instead as I have constantly mentioned a guy like Greg Monroe should be what PHX is trying to deal for as he is young, productive and will be much cheaper than Kevin Love.
Deng from what I read has an offer of 2 years, $20M from MIA, I assume that is the best offer he currently has on the table or he would have signed somewhere by now. I really do not see why PHX would be interested unless as some have mentioned Warren will be playing mostly PF.
I believe PHX needs a rebounding PF, dreams of obtaining a stretch 4 are pretty much pipe dreams at this point as there are no real stretch PF's available other than Love. So either PHX takes a shot at either Monroe/Boozer/Humphries or we see Markieff Morris as the starting PF with Warren as his back up next season.