Cutting Vernon Gholston will not save the team much against the cap. NYJetsCap.com puts the figure at $466,666. Consider that the Jets would have to replace Gholston with another player on the roster. Even at the league minimum, that would likely save the team only around $100,000. I know that every dollar counts, but savings would not be great.
The real issue with Gholston is that he is taking up a roster spot. That spot could be better served going to a guy who is more productive. It could be better served by giving it to a young guy who is still raw but might develop into a decent player. That ship has probably sailed as far as Gholston is concerned.
There is a definite cost associated with the New York Jets keeping Vernon Gholston around. It is less evident than salary cap numbers, but it exists no less. Gholston is blocking a potentially better guy from sticking.