You guys would settler for a 5th round pick from a division rival for Thigpen? No way! If the Bills want him, they need to cough up a 3rd or 4th round pick. We sent our 5th round pick to the Chiefs for him and we sure as heck are not going to just hand him to the Bills for a 5th round pick. If that were to happen, Miami would have just been the middle party in a Chiefs/Bills trade. The pick we sent is just a few picks lower then what we would get from the Bills.
My personal feelings? Don't trade Thigpen at all. He is still young, has starting experience and while he may not be a great option as a full time starter, we would feel comfortable if he had to step in for an injured Henne. I do like the idea of Pennington coming back to be Henne's backup for next season, but I don't want to ship Thigpen away for that reason alone. Let's be realistic here, Pennington is going to be 34 when the season starts and is coming off another major injury. He may not have many playing years left, and in fact 2010 could be it, especially if there is a lockout in 2011.
If the team really is interested in bringing Pennington back for 2010, then they seriously need to look at moving Pat White to another position. Make him put some weight on like the Browns made Josh Cribbs do and try to mold him in that form as a kick returner/wide receiver.
Thigpen is more valuable as a backup in Miami then he would be to ship him to a division rival for a 5th round pick. If the Bills offer a 3rd or MAYBE a 4th round pick then you need to consider trading him. Anything less and no deal.