I would do it, but I'll inform you about Adam. I don't think he will cut it as a NHL centerman, his skating is weak and he's not good defensively or on faceoffs. He absolutely can play a top 6 role though, his shot is absolutely wicked, and he's decent on the boards. He's terrible away from the puck though.
Luke Adam is worth more than Paajarvi. Size is valuable right now. And with the loss of Roy, Buffalo wouldn't want to lose a ton of size down the middle. If Grigorenko attends camp and performs well, they might.
You're welcome to try Adam out at center, especially if that's a position where you're lacking. But I'll have to warn you that I don't think he'll cut it as an NHL center for reasons others have already gone over. What you will get with Adam is someone who's much more likely to cut it as an NHL top-sixer than MPS.
This deal isn't bad, but I don't see the need for it from Buffalo's perspective. A winger we can't really fit into our roster for another winger we can't really fit into our roster. Our left side is already Vanek-Leino-Foligno-Gerbe, and our right is Pominville-Stafford-Ott-Tropp/Kaleta.