Let's face it, the Packers are going to use the Franchise Tag on Matt Flynn this off-season. They would be crazy not to. Using the tag ensures that they will receive some sort of compensation for their back-up QB—instead of letting him walk-away in free agency for nothing.
It mirrors the move that the Patriots made with Matt Cassel, trading him for a 2nd round pick after tagging him.
That said, I don't think it is worth it to give up a high pick for an unproven, 27 year old talent. Look what happened to Arizona last year with Kevin Kolb. They gave up a 2nd rounder and a starting corner and got a 2-6 record and a QB controversy in return. The media is speculating that the cost for Flynn could be a first rounder given the fact that 4 to 6 teams may be interested. If tagged, I hope the Hawks sit this one out.
I would be all for signing Flynn as a free agent though, as all you would be risking are salary cap dollars. The Hawks have a ton of room under the cap (30 million?) and will free up more money once Misters Whitehurst and Trufant are no longer with the team. CW's 4 million will be off the books and Tru's 2012 salary is 7.3 million which I didn't think the Hawks would pay (see post) even before Browner and Sherman emerged as bonafide starters.
I would hate to see the front office give up a top pick or picks for a big unknown—given that the team still has room to improve at a number of positions. Maybe the failed Charlie Whitehurst experiment will prevent it from happening again.