Might as well turn this into a real post. From Alan Hahn's Twitter, we get the following:

"Knicks bought Minnesota's 28th pick. DW has 2 first rounders now...the plot thickens...."

"Checking on the details of this...not sure you can just buy a 1st Rd pick for $$....must be a player involved."

"Brilliant people tell me it could be the Balkman trade exception that landed this pick. That exception expires in July."

One would imagine that Walsh is stockpiling assets to make an upward move in the lottery. If not, though, I could see the Knicks nabbing the best point guard available at 8, then looking for a shooting guard at 28. Jodie Meeks, Marcus Thornton, Dionte Christmas, Chase Budinger, and Wayne Ellington could all be available.

UPDATE: "Hold up, wait a minute...more intelligence coming my way: 28th is NOT done. An option, one of many, but NOT done."