Yahoo Sports reporting it as 2012 1st rounder and 2013 2nd rounder.
Either way it's a high price to pay for a 31 year old non-elite QB.
BUT, Palmer offers the potential of the most competent QB in Oakland since Gannon. Is the rest of the team good enough to justify this move in terms of guaranteeing immediate success? Questionable, but after the dark days post-SB the Raiders are looking more and more legitimate.