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Even though the Titans invested some money into Darius Reynaud in the offseason, that still isn't enough to earn him a spot on the 53-man roster.
His value at this point is virtually limited to being a return man. The Titans don't need his services at running back, and he really doesn't offer anything on special teams.
However, Reynaud had a successful enough season in Marc Mariani's absence in 2012 to really give him a strong shot at making the team.
Here is a head-to-head comparison between Mariani's numbers in 2011 and Reynaud's numbers last season.
Reynaud is still in the conversation of possibly being one of those tough cuts that no coach likes to make.
In the end, the Titans have to keep Reynaud as the primary return guy because Mariani still isn't healthy. You don't want an inexperienced guy returning kicks for you in Pittsburgh in Week 1.
Mike Munchak said on an August 26 practice report posted on the Titans' official website that Reynaud is basically still the best guy for the return duties.
If Reynaud is somehow let go, then you're looking at Damian Williams as a guy who would most likely return punts until Mariani returns.
With that said, Reynaud should survive the final round of cuts thanks to Mariani's durability concerns.