Hoops' estimate for Bowe may even be on the low side. Vincent Jackson got a 5 year, $55.55 million contract. His and Dwayne Bowe's careers have been pretty similar. Both have had three 1000+ yard seasons. In fact, Bowe has averaged more yards and touchdowns per game than Vincent. And he hasn't been in constant trouble like Vincent, either.
But then, Vincent has that ridiculous size/speed combo everyone is looking for with 6'5" and 240 lbs size to go with 4.46 speed...whereas Bowe is 6'2" and 220 lbs, runs a 4.51. Unsurprisingly, Jackson's averaged 17.5 yards per reception to Dwayne's 13.8. Jackson also has averaged 10.8 yards per attempt, 1.99 yards per pass snap, and a TD every 66 pass snaps over the last four seasons. Dwayne Bowe has averaged 8.0 yards per attempt, 1.84 yards per pass snap and a TD every 69 pass snaps.
Then again, I think Dwayne Bowe would probably point out he's had Tyler Thigpen, Tyler Palko, Kyle Orton and Matt Cassel throwing him the ball, whereas Vincent has had Phil Rivers throwing to him pretty exclusively.
Overall, I think evaluators will buy the size/speed and quality metrics on Jackson more than Bowe, even with the difference in QB play, even with the suspension possibilities looming over Jackson's head. I don't expect Dwayne Bowe to get as much money as Vincent Jackson did from the Buccaneers (who were put in a position where they were awkwardly forced to over-spend a ton of money just to get over the salary floor).
I'm not opposed to $10 million a year for Dwayne Bowe on a long term contract, though. I think he fits this offense, and if you want Tannehill to succeed you have to give him some weapons.