Welker isn't a free agent until after the 2012 season. That's 2 seasons yet.
And lets just forget that they have Tate, Edelman and Price on the roster
Welker is indeed a free agent at the end of this season, and no one but he, his agent, and Belichick likely know what he is asking/expecting, other than assuming that he wants 'fair market value.' Of course they should try and do everything to keep him, but our coach may feel differently depending on the contract demands and perceived value. Besides, even if NE keeps him, they still need other weapons at the position.
Brandon Tate and his 24 catches didn't exactly prove much to me, but you have a point in saying that he is young, and deserves a solid chance to prove himself. If it doesn't happen this year however....
I still think that WR is certainly one of the top 5 needs though, as Welker is in his last year, Branch is like some said--not even a starter on most teams, is getting older, is injury prone, and also is in his last year.
Tate and Price are pretty much complete unknowns. I don't see how they have proven themselves worthy of locking down a WR spot at one of the most potent offenses in the NFL? Hopefully one of them steps up and becomes a force, but I don't see how you can count on them. You certainly cannot cross off the position as solidified, because they may or may not end up being worth anything. I certainly wouldn't want to have to depend on either one of them. Blending them into the offense is one thing, depending on them is a whole other topic, and would take us back to 2006.
I do agree with you that we should not have to trade up to get Jones, and I really doubt that would happen. If it did, he better be the second coming of Larry Fitzgerald.
I also agree with mgteich in his thinking that we could likely afford to address the situation in free agency. Too bad there aren't any trades allowed, because Steve Smith has already cleaned out his locker and suite in Carolina. I wonder if he could be a realistic fit here, and how much it'd take? At least we know he can play hard and give his all.
I think there is a fine line between need for this year and next year at the position, and depending on what happens, it could be a very major need by next draft. I see nothing wrong with looking and planning ahead a bit.