I am never a big fan of using valuable resources on a 3-4 end. It is not difficult to find guys for that spot. With that said, I am never against grabbing a good player in the Draft. I think once Rex Ryan got his hands on Allen Bailey, Bailey could develop into an excellent player at the position. His physical tools are great. He has a rare combination of strength and athleticism. Getting into an NFL weight lifting and training program could only help.
While Bailey is a bit raw, technique for 3-4 linemen is less difficult to pick up than other spots on the field. It is about using hands the proper way as much as anything. Bailey needs to learn how to harness his strength to do this effectively more. He also needs to recognize the snap better to get a good jump more consistently and recognize the ball when engaged. These can come from experience.
If Bailey is there and there are no guys at more significant positions of need who have value there, I wouldn't mind the Jets spending a pick on him.