Braylon is done. The only reason for him would've been for that chemistry with Sanchez.
He can't play ST and he lost his speed. I honestly don't know if he's an upgrade over Clyde Gates at this point (and I despise Gates).
We need a legit #1 for this season and beyond. We could ride out with what we have now and draft Lee/Watkins with the first, or we could trade a 4th/5th + a 2016 conditional pick for Josh Gordon, have someone that's already a #1 now and for the future, and have the 1st rounder to spend either on OLB (Barr) or TE (ASJ).
Say we trade a 2014 4th and a 2016 conditional 3rd if Gordon is still on the roster (IR or normal) by March 2, 2016. We can then go out and sign Jairus Byrd (finally have a ballhawk for our defense. We've only produced two TOs this year) and maybe even a Jeremy Maclin, who should come cheap-ish after his ACL (he'll be cheaper than Holmes).
We could go Barr in the first, Lyerla in the second, Loston (Safety LSU) and Carey (RB, Arizona) in the third, and Dri Archer (badly needed KR/PR/RB/WR) in the 4th. The rest of the draft can focus on OL depth and maybe a MLB to groom behind Harris.
That's how you retool in today's NFL. If our CBs can pull it together, that's easily a top-3 defense at it's floor. We'd also have the weapons of a top offense in the NFL (Maclin, Gordon, Hill, Kerley, Lyerla, Goodson, Carey, Powell). If Geno can pull it together, that's an explosive offense.
This will be a huge offseason for the Jets. This is the PERFECT time to spend in FA, as we need veteran leadership in those two positions. We have the space, and we have the young talent. We're in a much better place than we were in 07-08. It's time to re-open our window.