It's amazing that longtime fans of the Patriots don't know better than to avoid panicking at this time of year. We go through this almost every year. And the team is almost always proven right in its decisions not to chase high-priced free agents.
In the entire history of this team under Belichick, the Pats have only once chased after a high-priced free agent who made an immediate impact. That was last year with Revis. If you want to call Adalius Thomas a success, then maybe twice, but he turned out to be a flop in the end. Rosie Colvin got hurt in his first game and was the only other big-money, sexy free agent the Pats ever chased. Colvin contributed on the 2004 title team, but you could make the argument that he was the sixth-best linebacker on that team (after Willie, Vrabel, Johnson, Phifer, and Bruschi).
Every other Patriot mainstay either arrived via the draft or was a low-cost acquisition. Rodney Harrison cost $14 million; Welker cost a little more plus a second-rounder. Moss cost a fourth, as did Ted Washington. Brian Waters signed a week before the season started for short money. Vrabel was a total unknown - Jonathan Freeny might be the next Vrabel for all we know. Same with Ninkovitch and basically every starting free agent offensive lineman this team has had outside of Waters.
The Patriot approach is to try to build with value signings and then add throughout the season as needs arise. Jarvis Green was the plan at the nose in 2003, but they traded for Washington when they realized he wouldn't work. Talib was added when he became available. Deion Branch's return was another example. Blount, acquired twice, was another..
This team doesn't have many holes. It returns basically the entire offense minus Vereen, plus Chandler. On defense it lost the three major players in Revis, Browner and Wilfork. But Sheard is a big addition to the front, and Easley and Mayo returning improve the team.
That means we have an entire draft class, plus all of our remaining cap space, to try to make up for the losses of a few players. Granted, Revis is a huge, devastating loss. But they're not that far from being what they were, and they may very well be better on offense. With Collins, Hightower, Jones, Ninkovitch, Sheard, Mayo, Easley and Siliga, they have a lot of good players in the front seven. They've got a Pro Bowl safety and a bunch of corners who are at least okay. And there's a LOT of time left. May we should at least wait until after draft weekend before hitting the panic button?