Before the flames begin, i want it to be known that I am an animal lover who helps financially support a local animal rescue, and I'm also the owner of an awesome Pit Bull/Mastiff mix that was a rescue. That said, I think Vick deserves another shot, and I'd like to see the Eagles give him one.
Sign him to a one year, incentive laden contract that includes a required community service clause. Let him face the fire of the Philly media, fans, and animal lovers. Give him a chance to turn his mistakes into a positive, or hang himself if he hasn't truly turned his life around. While there's a downside of course, the upside is a continued spotlight on animal cruelty and dog fighting, and the opportunity for a human being to redeem himself.
As a player, we use him as an H-back, kick/punt retuner, 4th receiver, and wildcat component. With that kind of speed, defenses will have to scheme for him. Think of him as a replacement for G-Lew, with more tools.
I will don my asbestos overcoat and await your responses.