The Indianapolis Star's Mike Wells reports (via Twitter) that Chris Kaman is still the Pacers' top target for the trade deadline. However, due to Pacers' strong salary-cap flexibility (they are about $14.5MM under the cap), they don't consider it worth giving up a first-round pick for Kaman's expiring deal, which is by all indications what the Hornets are asking for.
Kaman has been on the trading block since the start of the season after being shipped from the Clippers to the Hornets as part of the Chris Paul trade. The Pacers have long been thought to be the most interested suitor, and with the trade dealine a week away, a decision one way or the other appears to be forthcoming.