He's older, but other than Britt, our WRs are quite young. It couldn't hurt to have a reliable, productive veteran at a fair price. Most of our wide-outs have struggled being productive at all... regardless of their age. Bring him in.
We should have room even if we draft a WR. Let Quick and Welker (ticking time bomb re: concussions) go. I'm assuming Bailey's career is probably over.