Dalembert and Jerome Jordan are two of the pieces.
Marc Gasol or DeAndre Jordan are probably too expensive to acquire, assuming that we still want a shot at Chris Paul between December 2011 and August 2012. The only way we should sign Gasol or DeAndre is if the Hornets explicitly make it clear that they want one of these as part of a deal for CP3, or if we trade up in the draft and pick a PG.
Otherwise, if there is not a clear answer to the questions above, then I draft Kenneth Faried. I don't believe Fredette will drop to #17, and I do not like his defense at all. I would also trade up for Enes Kanter, or for an additional first rounder to get both Faried and Noguiera.
One of the problems is that Faried (at 6-8) is not a center, he is a forward backup for both Stat and Melo, a defensive stopper, enforcer, and rebounder. But it is also hard to pass on Faried to take Noguiera, who is more of a project.
Some folks trading up would take Kyrie or Kemba instead of Kanter, and this make some sense, but then you probably go for Gasol or DeAndre Jordan rather than Dalembert, because then you do not have some young bigs as projects, so you need a center of the future rather than a stopgap at center.
I might also take a chance on Oden. The downside is obvious and it would take a lot of guts. No doubt there is a ton of risk in that option. If it blows up, you probably get run out of town. However, there is also significant upside if he suddenly can stay healthy (remember that they said the same thing about Camby for a few years early in his career, and look how that turned out - on the flip side you have Sam Bowie and a host of other bigs who busted and/or never could stay on the court).