2012 NFL Free Agents: Pros and Cons of Every Major Deal so Far

This NFL free-agency period has been an interesting mix of an early feeding frenzy that made heads spin, as well as a tedious waiting game for the class' most touted name.

Peyton Manning took a little longer to make a decision than many expected. In the meantime, many other teams were happy to make large splashes in the pool.

Some of these lucrative moves could forever shift the balance of power in the NFL. Only time will tell, but here are some of the biggest deals to come through in 2012 so far, as well as the pros and cons of each deal.

Peyton Manning

The Deal: five years, $96 million, $18 million guaranteed first year (as reported by ESPN's Adam Schefter)

The Pros

Denver is now the clear front-runner to win the AFC West, and a Las Vegas darling to do damage all the way up to the Super Bowl.

Denver gains the best free-agent quarterback to ever hit the market and can now start to build the traditional passing offense that John Elway would prefer to construct. This makes the Broncos immediately Super Bowl-relevant.

The Cons

There are still serious concerns about Peyton Manning's neck and its durability. Denver has hitched its wagon to Peyton for the next five years, which makes Manning 41 at the contract's conclusion.

Denver tried to protect itself with a required physical in the second year before triggering more money. Even without taking a financial hit, the loss of Manning before the conclusion of the contract would set Denver back years as a franchise.

Matt Flynn

The Deal: three years, $26 million

The Pros

Seattle scored the second-most coveted quarterback on the market in Matt Flynn.

The former Green Bay backup is still young and has plenty of upside left in his career, much like when the team made a similar move to sign former Packer QB Matt Hasselbeck.

Flynn should help bring some much-needed stability to the Seahawks offense.

The Cons

The Seahawks just paid a man $26 million for essentially one game's worth of work. Granted, that game by Flynn was extremely impressive and set Packers records.

But there is still a huge question mark as to whether the game was a fluke or indicative of things to come.

The terms of the deal do a decent job of minimizing the risk should Flynn fizzle out, but Seattle is taking a big leap on a guy without much NFL experience.

Mario Williams

The Deal: six years, $96 million

The Pros

Mario Williams was the hottest free-agent prospect not named Peyton Manning, and the Buffalo Bills showed a great deal of persistence in landing him.

In Williams, the Bills have one of the most dominant defensive players in their entire division. He will be a huge factor in the Bills finding a way to the playoffs. If his pass-rushing remains at a high level, they may just stymie their rival Tom Brady.

The Cons

Williams is coming off of injury and has ping-ponged around at different positions throughout his career.

It remains to be seen exactly how Dave Wannstedt wants to use Williams, but he will need to get a lot out of him to earn the early money wrapped up in Williams' contract.

If things go south, though, the backloaded money will make Williams hard to move.

Calvin Johnson

The Deal: extension for eight years, $130 million

The Pros

This was the biggest deal of the offseason. Even though Calvin Johnson was not a free agent, it was a very important deal for the Lions to make.

This guarantees that the biggest playmaker in the league stays in Detroit for the foreseeable future. Johnson should never complain about appropriate compensation and can focus on nothing but restoring the legacy of Lions football.

The Cons

Without Matthew Stafford at quarterback, the value of Johnson goes way down. Stafford has had trouble staying on the field due to health, and any other quarterback tossing the ball to Johnson doesn't get the same out of the megastar wide receiver.

It's always hard to spend so much on a player who relies on another to get the ball, but it was a risk that the Lions had to take to cement one of the keys to their success.

Ben Grubbs

The Deal: five years, $36 million

The Pros

Some may be wondering why this deal made it on the list over Carl Nicks, who signed for more money with Tampa and is arguably better than Ben Grubbs.

The answer is Drew Brees.

Nicks is a great player and needs to be paid significantly to protect a top-three quarterback. That kind of money didn't jive with what the team felt he deserved, forcing them to part ways.

Still, the Saints must protect the all-world quarterback. With Grubbs, they were able to save money and still find a great interior lineman for Brees.

The Cons

Obviously, there is a drop-off in talent between Grubbs and Nicks; the Saints are aware of that.

However, in an effort to assess what was best for the team overall, they had to make that choice and go with the more cap-friendly Grubbs. The team will hope that the talent gap is small enough to not slow down the high-powered Saints offense.

Vincent Jackson

The Deal: five years, $56 million

The Pros

Josh Freeman and the Bucs offense finally have a true downfield threat. Vincent Jackson was arguably the top name in the wide receiver class, and for good reason; his production can be prolific.

Tampa Bay hopes that this opens up the entire field for LeGarrette Blount and the rest of the Bucs offense. It will have to for the team to keep up with the NFC South's high-powered offenses in New Orleans, Carolina and Atlanta.

The Cons

Jackson was a tough player to keep healthy on and off the field while he was in San Diego. Jackson battled many injuries while in San Diego, which is something Tampa will hope to keep under control.

Much like Calvin Johnson, it is always hard to invest a lot of money in a player who relies on someone else to get the ball in his hands. However, it was the Bucs' biggest offensive need and they had to address it.

Brandon Carr

The Deal: five years, $50.1 million

The Pros

Dallas was in severe need of a true cover corner to aid Rob Ryan and his attacking style of defense. This signing should help DeMarcus Ware find that extra second to get home on the pass rush and generate some much-needed turnovers for the Dallas defense.

Another pro for Brandon Carr is that the extra $100,000 makes him the highest-paid corner of this free-agent class, surpassing Cortland Finnegan in St. Louis.

The Cons

Carr is the type of guy who needs an extra $100,000 on his contract to feel good about himself. Luckily, he is with Jerry Jones, who is happy to help throw that jab to the rest of the league for him.

Carr is a great athlete, but obviously the Kansas City Chiefs were willing to choose Dwayne Bowe over him. He may not be the elite corner that Dallas is paying him to be.