A lot can happen in a year. If we can't get value with a trade, then I say we keep him. Next year, we can franchise him. Yeah, this will cost a lot of money, but there may also be other options.
Maybe by then his salary demands come down and we can afford him. If he has a bad year or is injured, maybe we can sign him to an incentive-laiden contract. The point is that so many things can happen between now and next year that may work in our favor with respect to salary demands, cap figure, etc.
Bottom line to me is ... trade him if we can get value (value = 2nd rounder and at least 3rd rounder this year). If no trade, then keep him. Come February '06, we'll figure out what we have to do/can do with him for future years.