Judging by last years market, and the fact that he had a so-so season, (11 total sacks, but 8 in 3 games) tells me he shouldn't expect a big deal. If it's in the Freeney range, I would hope the Pats consider it.
1. He's a big game player. I think he might take off plays when things are going well, but in the Giants two post season runs, this guy is a monster. Pats need a playoff performer, not someone who plays well in the regular season and does nothing in the playoffs.
2. He can play DE/DT. Can come up with a mini nascar on third downs with He, Jones, and Nink/Collins...The pass rush was inconsistent this season, and nonexistent against the game against DEN. This should also help with those third and longs that the Pats always seem to give up.
3. He fared well against the run? Didnt watch enough GMEN games to know, but I read that he did pretty well.
4. It's a risk. But like all Second-Middle Tier FA's, it's a risk signing. However, if I'm taking a risk, I would take it on a 31 yr old who has had a history of showing up in big games. Not someone who pads stats in the regular season.
If he's looking for 3 years, I say no. If it's a 2 year deal where you can cut him after the first with no huge cap implications, I say definitely. This guy has more rings than anyone on the roster not named Brady. He can offer a lot, and while he's 31 next season, I still think he has a few good years left.
Again, only if the price is right. If someone else wants to give him a huge contract, so be it.