A first round pick is HUGE over payment for the rights to a pending UFA. Why would Plekanec be any more inclined to sign in Phoenix than anywhere else? It would be crazy to burn a first round pick on that chance. First rounder do not change hands like they used to, either. Certainly not for the rights to a player like Plekanec.
UFA rights are not really worth that much, especially a first round pick. If they wanted to swap Michalek's rights for Plekanec's that would make sense but I doubt Montreal would go for that considering they plan on re-signing Pleks...at least imo.