Another reason I forgot to mention: AMR desperately wants APA to relinquish scope, which fortunately, APA has not ceded ground to. A merger or aquisition of US Airways would give AMR the scope relief they want.
As far as the labor side, yes, it would be a god forsaken turd pile of a mess, especially knowing how numbskulled these US Airways East pilots are. If a deal were to occur, it might go down as an aquisition to keep the Airways pilots from screwing up the integration. I just hope that if any of this does comes to fruition that they will integrate PSA/ Piedmont into American Eagle using the ALPA merger policy for seniority integration.