This thread is a starter to discuss your opinions on how to approach FA vs the draft. And your philosophy may change from year to year depending on the team's needs and FA's available and type of draft prospects entering the league. So I will start with mine for this year. Critique what I say and compare your philosophy to mine.
This year I would spend my FA money on rebuilding the OL, CB, and maybe one TE depending who becomes available (like Keller or Finley). I like Cox at CB as well. Without examining every FA this is where I would start.
Then I would invest my draft picks on playmakers like DE, WR, and one TE. As far as WR's I like Hopkins, Wheaton, and Goodwin. They all have the size, speed, and playmaking abilities you look for in Philbin's system. Specific targets in the draft would be the TE from Rice (forget his name) and those WR's. those 4 playmakers plus Bess, Matthews, Clay, and the one FA TE would make for a nice group for Tannehill.
How would approach the off season?