Schefter is reporting the Titans are asking for a third round pick in return, while the Cowboys are offering a sixth round pick. It's looking as if both teams will agree somewhere in the middle, likely a conditional pick.
There have also been rumors that the Titans want the Cowboys to include a player in the trade. The Titans are trying to get as much compensation as possible for Pacman, who is a former 1st round pick (No. 6 overall in the 2005 draft).
If this is the case, look for the Cowboys to throw in a player from their crowded linebacker corps, such as former first round pick Bobby Carpenter or Akin Ayodele.
I wouldn't be surprised if a deal is completed this weekend, before officials for both teams leave for league meetings in Florida.
If I had to predict the outcome, I say the trade will be completed Monday. Going to Dallas, Adam "Pacman" Jones, and the Titans receiving a fourth round conditional pick and Akin Ayodele.