Puck Daddy’s 2012 NHL Trade Deadline Live Blog, Hour 1

8:00 a.m. EST -- Happy Hockey Rumors Christmas, everyone. Judging by the lead up to today -- from player's getting re-signed to GMs making moves before the deadline -- it appears things might be slow up until the 3 p.m. ET deadline. But hey, we're all in this together, so fire up that pot of coffee and sit back and watch the trades (hopefully) come in.

Here's how things will work today on Puck Daddy: As per usual, we will have live blog posts going up every hour, on the hour. Trades, news, analysis, observations or general pithiness will be published on top of the most recent information in the post, so it'll end up reading in reverse chronological order. In other words: Hit refresh and check the top of the post. A lot. Big news or trades will be pulled out for their own posts.

Once again, we'll have our Chatterbox up and running with the Twitter feeds of beat writers and news breakers around the NHL. As a special bonus, because of Wysh's involvement, we'll be streaming Sportsnet's coverage of Trade Deadline Day and, yes, our American friends will have access to it.

Last but not least, our classic bit is back for this deadline: The Milbury Scale, in which we rate a trade's fairness and effectiveness with floating noggins featuring perhaps the most inept general manager in the history of the NHL.

For those of you who are new, here's how it works:

One Milbury: A fair trade that helps both teams, both in the short term and in the long run. No winner, no loser: Just a solid deal founded on smart financial and hockey needs. Think Brad Boyes for Dennis Wideman.

Two Milburys: A trade that could, down the road, burn one team in a big way. We're talking a trade of blue-chip prospects for a rental, if the team that's renting clearly isn't going to win it all this season.

Three Milburys means a clear winner in a deal at the time of the trade. Someone got a little too desperate, or someone just got hosed. Sergei Fedorov for Ted Ruth is a Three Milbury trade.

Four Milburys! Bertuzzi, McCabe and eventually Jarkko Ruutu for Trevor Linden! Roberto Luongo and Olli Jokinen for Mark Parrish and Oleg Kvasha! YASHIN! DISASTER!

So there's that. Coming up: The teams that have captured our imagination today. What are your predictions for deadline day?