First off, I'm not a fan of this trade. You over spent for Branch.
At the least, Branch is worth a sixth round pick. At the most, a fifth round pick. If Seattle is asking for more than a fifth, then New England needs to decline.
In my opinion, I don't believe Branch is worth more than a sixth or fifth round pick when you consider that Seattle should release him anyways. They've already released TJ Houshmandzadeh, and have talented wide receivers Deon Butler and Golden Tate and tight end John Carlson. And Branch is still an injury concern and he's an older player. Unless Branch is acquired to assume the other starting wide receiver position on New England. You buy low... Is Branch a better player right now than Tate? Because Tate at least gives you a deep threat option.
Personally, I would rather talk to either Denver or Chicago about acquiring one of their wide receivers. Maybe, Jabar Gaffney or Devin Aromashodu.