I know I'm in the minority here but I would take him back at a cap friendly number and do it in a NY minute. Younger guys are fine as long as they can get the job done. I just don't see it happening this year, not with all the holes this team has to fill. Especially not with the labor situation that I would bet will keep teams from trading guys before or during the draft. Not to mention Free Agency cant' happen till there is a new CBA which is going to make getting the guys you want tough and expensive. It will also likely mean they won't have nearly the time necessary to fully learn a new system or bond with teammates.
Right this minute, the team has 6 confirmed draft picks this year with a 7th floating out there from the Tryon trade. None in the 3rd or 4th rounds. We need, at a minimum, a C, a RT, a NT, a DE, a FS, a CB and a guy to be the bookend to Orakpo. That is without considering depth anywhere (like middle LB, WR and OG) or the huge hole at the most important position in professional team sports, QB.
If CP would sign for an unguaranteed $2 mill plus incentives for a year, I'd be all over it. He fills a need with more talent than we can get from anyone short of a 1st round pick and he has had the playbook for a year so knows what he is doing. My guess right now is the teams that manage to keep most of their guys from last year and avoid much turnover in the starting ranks will do better than those that don't this year.