I think this speculation is at least as plausible as the garbage speculation from yesterday. We've actually seen BB somewhat hide an extraordinarily talented (but somewhat misguided) vet free agent for an entire preseason only to unleash him on the rest of the NFL week 1.
It's exactly what he did with Moss, who when he got here was in a similar place in his career. That led to the same crap speculation back then too (remember the "Moss on the bubble" stuff).
We've never seen BB use draft picks to secure talented vets, get them to restructure club friendly contracts, only to cut them to make them an example for rest of the team.
So, while it's unpredictable exactly what BB will do, If I were a betting man, I'd go with the odds on this one.