What's important is your pass-blocking and being able to pickup the blitz. And being an option on third down on offense. You probably aren't expecting either to be a featured running back. But, for Taylor, he's an ideal complement to a featured running back. Unfortunately, New England needs a featured running back. Marshawn Lynch or Marion Barber could be available via a trade.
I like that Taylor is younger and has more size (5'11'' and 213 lbs). And he doesn't have a tremendous amount of attempts in his career--totaling over three hundred attempts once in his first season with Minnesota. In all other seasons, he has totals of one hundred and sixty and one hundred and fifty-seven, those being the second most. Mostly, due to his lack of career starts. Conversely, Faulk has totaled far less attempts per season in his career, registering triple digits in attempts only twice. Still, he's an older player.
Nonetheless, Faulk is still a viable option, and Taylor is a more than adequate alternative. But I don't think you need them both. It's one or the other.
Kevin Faulk - UFA
33 6/5/76
Chester Taylor - UFA
30 9/22/79
NFL Free Agency: Five Potential Bargain Buys That Could Make an Impact in 2010 | Bleacher Report