we're giving up our 2017 2nd in the 2nd scenario which is likely better than Pit's 2016 2nd we'd be keeping in this one
all the picks involved are 2016 PIT 1st(15-30), 2016 PIT 2nd(31-44), 2017 PIT 1st(15-30), 2017 TOR 2nd(31-60), 2017 PIT 2nd(31-44)
and the options are
2016 PIT 1st(15-30) and 2017 TOR 2nd(31-60) - If Pit makes the playoffs this year we have these 2 picks
2017 PIT 1st(15-30) and 2016 PIT 2nd(31-44) - If Pit misses this year and makes next year we have these 2 picks
2016 PIT 2nd(31-44), 2017 TOR 2nd(31-60), and 2017 PIT 2nd(31-44) - If Pit misses 2 years in a row we have these 3 picks
The 2nd looks better because the 2nd doesn't include the range 45-60 in the Pit 2nd, but there's a very good chance our 2nd in 2017 is better than Pit's 2nd this year in the 31-44 range if they miss.
So I'd take door 1. I want Pittsburgh to play the playoffs
also if you include a time value of money thing, there's no interest on picks obviously, but the sooner you get them the sooner they're ready.