I'd say the likelihood of this being remotely credible is very low. Faulk has been linked to DET, TOR and CHI; those teams, with the exception of DET, make sense in that they could use a top 4 RHD. Doesn't BUF already have 2 RHDs in Risto and Bogosian?
Who's to say exactly what Donnie Wadz is looking for in return for Faulk. Team-needs-wise, a young-ish top 6 forward is ideal, preferably someone who can play C. Also the team could use a proven starter in net. There is absolutely no need for anymore D-men since de-Haan and TVR were brought on board.
Futures-wise, 1st rd picks plus scoring fwd or potential starting G prospects are nice. Again, no need for D prospects. A player for player deal strongly preferred I'd think vs. futures...