Far be it from me to suggest that the truth is in the middle here. I don't think the Colts dumped James because they think he is just not a very good back... it's a cap move. So I do think the Colts were reacting to the sorts of principals we're used to as Pats fans. They did not want to see their triplets broken up, but Irsay has evidently decided that for both the short-term and long-term future, the value they put on James is surpassed by what he can get on the open market. Same with Larry Tripplett and David Thornton. If the Colts have been risking "cap hell," this is pretty much it: letting go some stars, feeling the pain, and moving on - huh. That sounds familiar. (Note: I am a convert to this belief, having been invited to weigh the Colts' moves objectively by our local cap guru on an earlier occasion.)
As far as "We lose _______ and the press says _______, they lose ________ and the press says ________," I think I've seen more positives on the Pats' cap philosophy than I ever have on the Colts. Even just this year, I see more press on the Colts' "window closing" than I do on the Pats' "dynasty ending." The Pats are still at the top of the heap according to the preseason casino odds - a team that didn't even go past the divisional round of the playoffs.
Indy is going through pain, intentionally, before it's absolutely necessary... it is what it is, but it is not irresponsibility. I hope Joseph Addai is not even close to what they need to start over at RB, I really do. Either way, he won't be another Edge... certainly not yet.
PFnV