From around the interwebs...
Rob Neyer, ESPN: "What I will do is send up a big hip-hip-hooray for the Orioles, because the single best thing any rebuilding manager can do, ever, is trade a relief pitcher in late July for a couple of solid prospects... If I were an Orioles fan, I would be organizing a party right now."
Keith Law, ESPN: "The main return for Baltimore is third baseman Josh Bell, who alone is probably worth more in asset value than a good but sub-Joe Nathan, 60-inning-a-year reliever with two years of control left."
R.J. Anderson, FanGraphs: "The two seem like a nice coup by the Orioles in exchange for two years and a third of Sherrill as they continue to build with impressive young talent."
Christina Kahrl, Baseball Prospectus: "Flipping Sherrill to the Dodgers to add Bell merely drives home the extent to which the Bedard deal—of which Sherrill was the semi-famous part—is the gift that keeps on giving."
I'll update here as I come across more analysis.