Ok, whether or not this is true that the Thrashers are moving to the 'Peg, a move such as this would require a fairly significant conference and divisional re-alignment. This will create a stir, and possibly some anger, as the NHL has been locked into the current set up for a long time, relative to how often things changed throughout the 90's.
Here's how I see a re-aligned league... with Columbus being the team to move to the East. This might actually be good news for the struggling club. It's kinda tricky. In an ideal world Atlanta would have moved to Quebec City and Phoenix to Winnipeg, but oh well. Some might get worried about old rivalries being separated, but what can you do? Rivalry remains within conferences anyway. One thing I might change would be switching up Dallas and Colorado.