I'd be worried that Indy would offer more though, and create another potential contender the east, with Collison/Iggy/Granger/HustlePF/Hibbert. Of course, Obie would have to get fired for the team to contend...
I think New Orleans would offer Peja's expiring contract + Marcus Thornton (20ppg threat in starters minutes + possibly a future first round pick if they needed to sweeten the pot.
I've been thinking about the Pacers and Iggy on and off for a few months too ... but I was usually thinking about it the other way with Granger heading to Phily for Evan Turner and pieces (when thinking about Iggy to Indy, I thought Indy should go after AK47 as their PF and field a nice uptempo team).
I think Granger + Iggy would be a wonderful combination in the wings and a joy to watch. I'd love to see that happen whether it be in Indy or Phily.
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Honestly, I haven't seen the Philly PG's play enough to get a feel for how it'd work there. Collison is the real deal, and with Iggy and Granger, enough scoring power to use hustle/defender/garbage-man bigs and be a solid threat in the playoffs with their starters.
Throw in a bench that might be fairly deep (with TJ Ford, Rush, Posey, and a hustle PF), and they might take out a higher-ranked team.
Or be in the Charlotte realm as a team that's a piece or two short...and struggles.