The Jets' plan is to wait until after the draft to sign a veteran receiver, with Braylon Edwards on their radar.
Edwards and Cincinnati's Jerome Simpson, coming off a 50 catch, 725 yard season, are probably the pick of the litter as far as available wide receivers go on the free agent market. Both have big time ability, but both come with questions. Edwards' health is unclear, and he has been extremely inconsistent in his career. Simpson has concentration lapses and just pleaded guilty to drug related criminal charges, which could carry disciplinary action from the league.
The Jets are at a point where they are going to have to take a shot on a low cost, high talent guy and hope it pays off. For the passing game to have success, the receiver position is going to be important. Tony Sparano in Miami loved to leave extra guys in to pass protect. Given Mark Sanchez's poor play in the face of a pass rush and the real possibility of Wayne Hunter starting, consistently leaving extra pass blockers in might be the only way to go for the Jets.
That puts a lot pressure on receivers. On most plays, a defense rushes four players and drops seven into coverage. Usually an offense has five receivers against these seven defenders. If an offense leaves two extra blockers in, the three receivers have to navigate an opening on seven defenders. You had better have some talented guys who can get open. If the Jets got the 2010 high effort versions of Edwards and Santonio Holmes, they could do some things. Getting the 2011 low effort versions of those two would probably prevent the team from having a productive offense.