I don't think cutting Espinosa loose is a good idea. Sure he is unprecedented in the K totals, but he always has been. He has above average power and if he can make the adjustments, he will be a great player. He is the one type of player you hold onto because he has above average speed, elite defense, and above average power at a position where power is premium. Heyward had TONS of holes in his swing during his second year. He made the adjustments and had a good season just a few ticks below batting .270, knocking in 80+ RBI, scoring 90+ runs and hitting 27 Homers. He did that all the while playing GG caliber defense. Espinosa could be that guy next year.
Also I looked into the proposed Drabek trade a little more and I would think Drabek is the "pot-sweetener" if he gets healthy and figures it out (WHIP is way way way high). He should definitely not be the centerpiece and Morse is worth more than that.