I am a native Houstonian and a Texans fan. I have been embarrassed and felt betrayed by the team's player personnel moves since their inception.
But I think you have to look at this move in the proper context. The Texans have a new GM who was not around for the drafting of Mario Williams and the huge bonus payment to Carr. He has recognized and is now willing to admit that Carr is not the answer at QB. After paying him all that money, many GMs/owners would have stuck their heads in the sand and stayed with Carr forever rather than admit an error. Smith is admitting the mistake with this move and is trying to clean it up.
Sure, it looks stupid that the Texans were pro-Carr just a year ago and now are trying to deal him for a pack of Hubba Bubba. But that's better than sticking with Carr when you know he's never going to produce at a high level.
According to John McClain, Schaub has been a hot commodity for the last year or so, but Jim Mora would not trade him, period. Petrino obviously is but asked for a lot in return. There is apparently a lot of feeling around the league that Schaub is a high-quality QB who can be a productive starter in the NFL. Obviously the Texans feel this way too, otherwise the trade makes zero sense. Now, that may seem redundant for the Texans, but it does seem that the new GM is not an idiot.
If Schaub turns out to be another Brett Favre, then obviously this will be remembered as a genius move. If he turns out to be Matt Hasselbeck, it still looks pretty good. Anything less than that, though, and this will not be remember fondly as a good trade.
And as someone who is not an orangeblood, I can tell you that I was not pissed at the Texans for passing on Vince. I was pissed for them passing on BOTH Reggie AND Vince. I could understand the arguments for one or the other. I could not understand the argument that neither of them should be the #1 pick.
Time will tell.