I don't think I can comment on EJ3's logic, but isn't this more than just about signing the right and wrong players? It's about paying top dollar for individual components of a whole, and how many times you can get away with that. We paid Fred Jackson, and Stevie, and Fitz, but these were guys we didn't break the bank for. We did pay Mario, presumably because we thought the payoff was worth it. But can we have a defense with the top paid defensive player and the top paid safety? We have some cap space to work with, but if we want to retain some of the key players on this team moving forward (Wood, Spiller, Dareus) eventually you'll have to decide which of them you can keep, because you can't have them all.
If letting Byrd go elsewhere means we can keep a handful of good core players, then it might be worth it, especially if the front office thinks one of the new guys is capable enough. Personally, I would love to see Byrd stay; I'm sick and tired of seeing our good young players leave after they've established themselves. But this is more about the long-term vision, I would guess.