In no particular order:
1. Congratulations Cleveland fans, you landed the best O-lineman in free agency. Eric Steinbach is one of the better left guards in the game and can fill-in very well at left tackle or center (as he proved in 2006). For Eric's sake, I hope his blood alcohol level is high enough to stave off the staph infections that the Cleveland lockerrroom is famous for.
2. Congratulations Falcons fans, you have a front office that is willing (or dumb enough) to pay $3 million a year for a fullback--but still insists on playing a scatback at QB.
3. Nate Clements got crazy money from the Niners, but he was one of the best players on the market; safety Michael Lewis got big money too, and he isn't even a starter.
4. Invariably, everybody gets terribly excited about free agency and it proves all for naught. Last year the buzz surrounded the Browns (Willie McGinist, LeCharles Bentley) and Redskins (Brandon Lloyd, Antwaan Randle-El, Adam Archuleta) and the clubs went on to win nine games combined. The fact is, if the players available were so great, the clubs they were with last year would have re-upped them. There are exceptions, players like Steinbach and Clements are among the best at their position and are only on the market because their original teams were faced with salary cap issues, but the bidding wars for the few quality guys sends their contract numbers through the roof. The other phenomena at work are guys with good numbers (like a Joey Porter) who fit a certain system (the 3-4) who will be overpaid and asked to play in a different system. I can see some club running a 4-3 and adding Porter and then being shocked when he doesn't thrive in a system that asks him to drop into coverage more than rush the passer (which is his strength). The real winners of free agency are the clubs who manage to keep their own quality players and add a few mid-priced guys to fill voids on their club. Making headlines in March has little to do with making the playoffs the following January.