I have 'upgraded' to PCManFM 0.9.7 using Debian Testing.
This PCManFM does indeed have a 'Trash' function.
On its down side, it causes lxpanel errors on closing the gui,
and it locks up if FM left-panel locations outside knoppix are selected.
The latter characteristic is worrisome.
I don't want my (non-linux) hard drive files to get screwed up.

I've also looked at Xfe.
Xfe appears somewhat more sophisticated than PCManFM;
however, it may not be currently supported, and it uses some
different set of gui widgets than does lxde. So, it looks odd.