Here is Part 2 of my two-part series on finding value in NFL free agency this offseason. You can check out Part 1 (offensive value) here.

DEFENSIVE END: John Abraham (Falcons)
At this point in his career, Abraham reminds me of Leonard Little and his final years in the NFL. At 34, Abraham isn’t a full-time player any more but he’s still very productive as a situational pass rusher. The Falcons did a great job keeping him fresh the past two years by constantly rotating him in and out of the lineup. He racked up 9.5 sacks last season and there were a handful of games when he was the Falcons’ lone pass rusher. He wants one more shot at a championship before he walks off into the sunset and seeing as how Atlanta is content with him testing the market, he would be a great addition for a Super Bowl contender looking to beef up its pass rush. In fact, the Falcons better hope the Saints don’t find a way to fit him under their cap.

DEFENSIVE TACKLE: Brodrick Bunkley (Broncos)
Bunkley recorded 43 tackles but no sacks in 16 regular season games last season, which could turn some folks off. But according to Pro Football Focus, 11.3% of all plays Bunkley was in run defense ended up with him making a defensive stop (which was the most of all defensive tackles in the league). Injuries ransacked his 2010 campaign but Bunkley has always been a force against the run and at 28, he still has three or four quality years left in him.

OUTSIDE LINEBACKER: Manny Lawson (Bengals)
Some had their doubts about whether Lawson could play in Cincinnati’s 4-3 front after spending his first five years playing in San Francisco’s 3-4. But he played very well against the run and offers teams versatility in that he can stand up or stick his hand in the dirt while rushing the quarterback. He’s only a two-down linebacker because his coverage skills are nothing to write home about, but at 28 he still has plenty of quality years ahead of him and now teams know he can play in either a 43 or 34.

INSIDE LINEBACKER: Channing Crowder (Dolphins/Retirement)
Crowder flirted with retirement last season while taking the entire year off but he stated a couple of weeks ago that he wants to return to the NFL. If he can get back into shape, Crowder would be a nice addition to any defense looking for a two-down ‘backer. Most of his experience in the NFL has come in a 3-4 but he did play some 4-3 in Mike Nolan’s hybrid scheme in Miami. Crowder played very well in 2010 and while he may have to settle for a limited role in the early going next season, he could be a solid, cheap signing for a team looking for a run thumper.

CORNERBACK: Terrell Thomas (Giants)
Thomas tore his right ACL during the 2011 season but when healthy, he’s an above average No. 2 corner that plays the run very well. Apparently he’s ahead of schedule with his knee and at 27 he’s still relatively young. If he doesn’t re-sign with the Giants he would be a perfect fit in any Cover-2 team looking for a physical corner to set the edge. And with Carlos Rogers, Brent Grimes, Cortland Finnegan and Brandon Carr already set to hit the open market, Thomas will be a cheap signing offseason. (Especially seeing as how he’s coming off the ACL injury.)

SAFTEY: James Sanders (Falcons)
After being released by the Patriots last season Sanders was picked up by the Falcons and notched starting time at both safety spots. While he can be a liability sometimes in coverage, Sanders plays the run well and has plenty of postseason experience. Good safeties are extremely hard to find and while Sanders isn’t the best player on the market, the 28-year-old vet would be a welcome addition to a team starved for safety help. (He’s also not going to break the bank after playing as a spot starter last season.)

Who would have thought that Rex Ryan and Channing Crowder would make for great NFL news in June?

Tuesday night, after Dolphins linebacker Channing Crowder first learned about Jets coach Rex Ryan’s unsolicited response earlier in the day regarding comments Crowder made this weekend, the talkative defensive leader returned another round of his own jabs.

But before we get to Crowder’s latest rebuttal (it’s worth the wait), we should first get you up to date on the unprompted comments Ryan made during a news conference earlier in the day when he made it clear he didn’t appreciate Crowder calling out the Jets for getting ahead of themselves in June.

”I don’t know this Channing Crowder,” said Ryan, the Jets’ first-year head coach. “All I know is that he’s all tatted up, so I guess I ought to be nervous about him. The other thing is I think he’s wrong because I do think you win in June. I think you win with your preparation and all that kind of stuff. If I was younger, I’d probably handle him myself.”

So yes, it’s June. And yes, a linebacker and a head coach from rival teams are talking trash. This might be the football equivalent of Christmas in July – and it only gets better. Reached on his cellphone Tuesday, Crowder responded to Ryan’s comments with this:

”Oh, Lord have mercy,” Crowder said Tuesday. “What’s wrong with him? Now he’s talking about preparation? We play them twice this year. If he wants to be prepared, shouldn’t he know the starting middle linebackers of his division rival?”

As for the notion that Ryan would ”handle him myself” if he was ”younger,” Crowder begs to differ.
”He says he’d take care of me if he was younger?” Crowder said. “I’d have beat the hell out of that big old joker. Or if he really wants to get retro, my daddy or my uncle could have handled him. Don’t get big. Win with preparation? Start watching some tape and learn who your rival is. Come on now.”

As a writer, I’m probably inclined to say that Ryan should act more like a coach and not engage with players on other teams. But I’ve got to admit – I’m digging this.

The Jets need a shot of life after the days of Eric Mangini trying to do his best show-no-emotion Bill Belichick impersonation (which he’s moved now moved to Cleveland) and Ryan is giving it to them. I would have to imagine that players in this generation like the fact that their coach is willing to get into it with a mouthy opponent and maybe Ryan is starting to earn his player’s respect. (Albeit it in a backwards kind of way.)

Can’t wait for Ryan v. Crowder III.

With free agency ready to kickoff this Friday, February 27, hope once again springs eternal for fans across the NFL.

But it seems like more than any other year, the free agent market this offseason has been picked bone dry before teams have even had the chance to grab their shopping carts.

Nnamdi Asomugha?

Sorry, off the market after re-signing with the Raiders.

Julius Peppers?

Franchised, but teams can probably have him for two first round picks, a gazillion dollars and a six yachts.

Terrell Suggs?

Likely staying put in Baltimore after being franchised.

Karlos Dansby? Brandon Jacobs? Matt Cassel? O.J. Atogwe? Darren Sproles? Antonio Bryant? Dunta Robinson?

All franchised.

Are there any players left on the market to get excited about? Absolutely, there are plenty of quality free agents available and bargains to be had. But as in previous years, there are a ton of risks, as well.

Below are five free agents that might command a decent amount of money this offseason, but will also be worth the heavy price tag in the end. I’ve also complied a group of five free agents that could turn out to be thieves this offseason by commanding big bucks, yet those investments may not pay off once teams start strapping on helmets and shoulder pads again.