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For the second time in Belichick's tenure, Belichick used a 3rd for a backup QB. Perhaps, he thinks it important to have a solid backup if Brady is down for 3 or 4 games.
As far as whether he is worth more now, I don't know how we would judge. As far as being worth what we paid, Mallett is insurance. YOu are very happy NOT to have use it/him. Mallett is serving his purpose for the patriots. If he is traded we will have to find another reasonable backup. If Kafka is the man, we should extend his contract and trade Mallett for anything we can get. I suspect Kafka is not the answer.
IF we wind up trading Mallett for a 4 or a 5 next year after 3 full seasons as a back up having never used him I think he would be worth the originally investment of a 3. I think thats what you are getting at? But I dont think that means we cant hope he has somehow upped his value in the eyes of at least one GM and I used some real small criteria in my assuption as to how the value could have been upped and clearly a pro personell man would have more to go off (or rather done more analysis on what little we actually have to go off).