Seems like a fine signing. Our depth chart is pretty empty at his position. He has starting experience with at least some positives. He signed a 1 year deal for about 1.5% of the salary cap.
Harsh reality is that this team has too many needs to be great. They entered this offseason needing, on offense alone:
1) Starting QB
2) Starting LT
3) Starting RT
4) Starting outside WR
5) Another starting outside WR
6) Starting caliber TE (now addressed with Henry re-signing)
QB/OT/WR happen to be 3 of the most highly coveted/valued positions in the league as well, going by contract values and where they get picked in the draft. And this isn't even to mention defense where we've got some needs as well, even though the overall unit is solid. The idea that we're going to find viable long-term solutions that we all love at ever single area of need is absurd. There's going to have to be some short term and/or less than perfect stop gaps.
IMO, the key is to try and make yourself somewhat respectable across the board. Give yourself a reasonable baseline at every position, or as many as you can. Don't let any one area be so horrendously bad that it takes away from development at positions around them.