Not too bothered with them moving on from Woodhead. Woodhead is a decent player, but I think there was room to improve at the passing back position, and I think Vereen has the potential to be far more productive in that position, both as a runner and a receiver.
I think letting Welker go was a little less justifiable, particularly given the lack of experienced alternatives. While Amendola is potentially a bit more versatile, I'm not convinced he'd be as productive as Welker even if healthy--and his injury history is not reassuring. I like Edelman, but I think he's inconsistent. People complain about Welker's drops, but they were pretty rare. Edelman seems streaky to me--making some good receptions, then getting the drops for a stretch. He doesn't seem to separate as well as Welker either.
I have absolutely no problem with them letting Lloyd go. I never really liked the Lloyd pick up last year and thought he was a one-dimensional player whose fairly high catch total last year was more a function of his being the only X option rather than anything to do with his own skills.
I would have liked to have seen Fells stick . . . but he was expensive and I understand why they may have decided to take the flyer on Sudfeld (who I never liked all that much, even in camp when people were raving about him).
My biggest gripe with BB's management of the offensive "skill" positions is really the lack of attention to the WR spot in 2010 through 2012. Not addressing that position a few years ago (after Moss left) left us in a position where we had to completely rebuild this year. I understand the challenges. There were lots of other positions to address, there's a cap, there are limited draft picks, etc. And I also know the situation would have been less dire had Gronk and Hernandez both remained available so we could rely more on TEs rather than WRs for pass receptions. But still, it would have been nice a year or two ago to get at least one longer term option (and not just stop gaps like Branch) at the receiver position so there was better continuity between past years and this year. That said, I'm pretty happy with the way the rookies are coming along. It's not perfect yet, but Thompkins and Dobson are showing signs of improvement just about every week and by season end, Belichick may have proven his brilliance in putting an effective team together again.