This is a very good signing.
To the naysayers-- He's not going to start! He wasn't signed for that. Most likely, Ayers is the starter, and this guy steps in on passing downs. Much better value than Freeney or Abraham at 6 mil per year at their age.
Besides, he wants a ring, and wants to play for a contender. If Freeney was anywhere near as motivated to play with Manning as we were lead to believe, he would have dropped his price and signed weeks ago.