What about cutting Bess, using his 2.6 mil cap saved (and 750,000 dead money) and bring in Jennings for 7-8 mil? Considering he didn't sign yesterday, probably means that the market isn't as hot on him as he would like it to be. The move would only take a chunk out of the 20 mil remaining and could be a difference of 4.5-5.5 million year leaving 15 mil to go after a Tackle, TE, and CB. Personally, I would draft a tackle with one of our round 2 picks and pick up one TE and one CB with the remaining 15 mil.
You could also restructure Carpenter's bloated 2.6 million salary (or cut him) and free up a bit more.
Imagine our WR corps then. Wallace, Hartline and Jennings. That would be sick after last years embarrassment.