There are no great free agent options at options. Schaub seemed like one of the relatively attractive options based on his past success. His ugly 2013 was even slightly better than Geno Smith's in certain ways. At the same time, Schaub's 2013 decline seemed like it might have at least partially been due to a decrease in arm strength, which tends to not reverse itself.
I think the bottom line is the answer for the Jets is not in free agency either way. Either Geno Smith or a newly drafted quarterback will need to step up. At best the Jets can hope for serviceable stopgap from the other options out there.