I have an offer on the table in my five player keeper league.

I would get:
Berkman and
his 8th rounder

He would get:
my first rounder

I currently pick 3rd. I demanded the midrounder as I hate being a player down to the rest of the league at the end of the draft. The trade would make me better right now, but Berkman may be thrown back into the pool, and drafting 3, I could still have a shot at him. I guess what I am asking is if it is worth giving up the pick for Berkman.

We need to keep 5 players. This is a 12 team head to head league.

4 pts/HR
3 pts/triple
2 pts/double
1 pt/single
1 pt/walk
1 pt./RBI
1 pt./run
-1 pt./error
-1 pt./passed ball by catcher

Pitching is irrelevant because we use entire pitching staffs...

Here is my current roster: (My current probable keepers are in bold.)

J Varitek
M Barrett
J Giambi
M Lamb
K Youkilis
M Giles
I Kinsler
F Sanchez
M Lowell
T Tulowitzki
B Hall
C Duncan
B Giles
P Burrell
M Cuddyer
L E. Gonzalez
M Holliday
T Glaus
D Ortiz

who's available at the third pick?

That's the problem. Trade period ends before we have to set our keepers...

It's hard to say exactly whether or not it's a good deal for you, but that is an extremely favorable scoring system for Lance Berkman. Emphasizes everything he's good at, walks especially, and ignores his weak spots like strikeouts and steals. He should be a top 20 bat in a system like that.

Can you post everyone's lists of hitters? That bit of information seems crucial, in re: to who will be avail at #3.

First off, I think Burrell is a better keeper than Lowell, easy. The equation then boils down to this: do you want to trade Pat Burrell and whomever the #3 pick is for Lance Berkman and whomever you get in the 8th round (150th-160th best hitter)?

Another key piece of information to remember here is that player values are jagged at the beginning of a keeper draft, especially when so few keepers are retained. Some teams will be throwing back more talent than others, which means you may see someone who could be ranked 35th, 40th, etc. overall amongst hitters, not necessarily 63rd. With the 8th rounder...you're not as likely to find such a value relative to where you picked.

Just out of curiosity, which pitching staffs do you have? This sounds like a cool league...