uanap's right - it's hard to say without knowing your team and your league. For instance, the Ichiro/Bernie/Millwood side would ingeneral look good in a deep roto league, while Bonds would be worth more in most shallow points leagues.
Let us know - this is certainly an interesting offer!
Bonds tops Ichiro, Bernie is far better than either of the guys you'd be dropping (unless you're in a keeper league), and Millwood and El Duque are both risky. Both have excellent potential, but have broken the hearts of fantasy players in the past.
At the moment, I'd say Hernandez and Millwood are about even, with a very slight edge to Millwood, whose curve seems far better than it was last year. It's still too early to tell for sure, however.
I guess it depends on who you have to replace Bernie. If you wouldn't be losing too much there, it might be worth it, but if you'd be stuck with a scrub, stay away.
I have had El Duque in the past and he was very inconsistent all of the time! Millwood was, too, but he is much younger and it seems that he got back on track now, he had two good outings this year, although this is, of coz, too early to judge!
Bernie is for sure an upgrade over Lawton/Blalock (it depends on whom you have on 3B/OF, but I would drop Lawton...), while of coz Ichiro has less value than Bonds.
Seems like an even trade, I would do it, as the chances for Millwood to break out are good!
Adding El Duque to your offer certainly doesn't hurt you if you'd be dropping him anyway. Oswalt is safer than Millwood, and while Cabrera is below Williams' level, if he fills a need on your squad, I'd try this version. If you can soak up the loss of power, this deal doesn't look bad.