Too much money IMO. I doubt Noteboom would have fetched that on the open market for that term with his small sample size of play and propensity to get injured even when only playing on a part-time basis. You never know though! Offensive lineman always go at a premium.
I do quite like the player. It might prove to be good value in hindsight if Noteboom stays healthy and performs like a top-tier LT over the course of the deal. Time will tell. But again, I doubt the open market would have seen Noteboom do as well (could be wrong!), so it is hard to classify this as anything but a mediocre signing, IMO.
The front office has earned trust from Rams fans on the whole, without question. We've got the best brass in the business. But what is interesting is that overpaying their own player, and doing it arguably too early, is one area where they have not separated themselves from the pack for the better (Goff, Gurley, Austin, and arguably Ogletree and Cooks... maybe more I am forgetting). We will see if the Noteboom signing is another one we want back in a few years.
EDIT - This almost assuredly means Whitworth retires. Disappointing but expected and earned. Enjoy retirement, Big Whit!