ey were right against the salary cap (about 2 million under) and thus it seemed they had no resources to extend Jimmy Graham (perception among fans). They fought to make sure his designation as a franchise player was as a TE and not WR (to save millions). They released Lance Moore (though some will argue that the Saints did not want him next year). They trade Sproles for a low round pick. They wont' be able to replace his production...he is one of the premier backs catching passes.  

They then send shock waves through the league by giving Jarius Byrd a six-year, $54 million contract ($26.3 million in guaranteed money) which is the richest deal in NFL history for a safety. Byrd is a very good player...Ronnie Lott he's not. Very surprising move given the Saints cap situation.

Now will the Saints compete for a playoff spot in 2014/2015? Of course. Any team with a top tier QB (and in the Saints case a QB who is building a hall of fame resume) will always be worthy of playoff consideration. The NFL has turned into a QB driven league... It's why teams spend years searching for a franchise signal caller. But some of the Saints off season moves to date have indeed been head scratchers.

Notice that the focus of the Broncos, Patriots, and now Saints is to get better on defense?  A good QB can make average offensive personnel better....but you have to be able to stop the other guy some time.