I don't think we overpaid at all. The "me first" guys around here clearly haven't been paying attention the last couple years. Also, when you say that he's not "good or great," you have to keep in mind that Cassel was the BEST quarterback he's had throwing to him in his CAREER.
If you're interested in an interesting statistical analysis that was done a few weeks ago, check this out. It concluded that a fair deal for Bowe would have been 5 years, $58 million, $20 million guaranteed.