I think an awful lot of people in this forum need to come to the realization that the Patriots will not get anything above a day-3 selection for Ryan Mallett. Anyone that wanted him could have had him 2 years ago, and he has done absolutely nothing to strengthen his credentials since then.
He's tall.... he's got a strong arm..... he's tall.......... he's got a strong arm...........
I think you're right that the Pats probably won't get anything good for him in a trade, but I think you're off a bit here. Let me try to explain why I think this. What were the scouting reports on him coming out of college? Here are a few:
WalterFootball.com: 2011 NFL Draft Scouting Report: Ryan Mallett
ProFootballWeekly.com - Patriots No. 5 pick scouting report: QB Ryan Mallett, Arkansas
Scouting Report: Ryan Mallett | Draft Breakdown
Scouting Report: Ryan Mallett
The consensus here is that Mallett offers the following strengths and weaknesses:
Strengths: Tall, great vision, unbelievable arm, can make all the throws, tough, possesses a will to win.
Weaknesses: Not mobile, not accurate, questionable decision-making, and character issues.
PFW offers this summary: "A tall, lumbering, rocket-balling pocket passer who sprays live bullets, Mallett began to settle down as a senior and fits very well in a vertical passing attack, but issues still reside about his makeup and lack of maturity. Will not be able to live off his arm talent alone in the NFL, and his inaccuracy and shaky decision making are concerning."
So there was always a lot to like about Mallett, but the makeup and character (maturity) issues were right at the forefront.
Now, what has happened during his first two seasons in the NFL? Well, he's gotten very limited playing time, so it's not like he's had a chance to prove himself. So we don't really know yet whether those weaknesses of inaccuracy and decision-making have improved. But what we do know is that he's spent two years now under the best head coach in the NFL and learning from the best QB in the NFL. That *has* to rub off on him somehow, it has to be a positive for his development. Moreover, we've seen none of the character and maturity issues he entered the league with...at all. So one of the biggest concerns about him coming in seems to have vanished (or at least been kept under wraps).
So you can probably cross off one of the biggest things in the "weakness" column, which means that this is now a better prospect than he was two years ago, when he was drafted in the 3rd round.
The offsetting issue, though, is the fact that he would be under another team's control for two fewer years, so they'd have to judge whether it's worth it. To me, this is the biggest reason a team wouldn't offer the Pats much for him.