Consider me in the minority but I like the Jerramy Stevens signing, especially how Bruce Allen released the news on the second day of the draft when the sports media is too busy handing out draft grades to actually pay attention to what is going on (hell, a Mets bat boy basically admitted to giving steroids to players and nobody is talking about it). But I have already digressed from the subject at hand.....
The Stevens signing is low risk/high reward for the Bucs, which has become so quintessentially Gruden. The Bucs likely didn't pay much for Stevens since nobody wanted him, yet they were able to add one of the better tightends in the league. After Alex Smith the Bucs have zero depth at tightend, which is troubling since the Bucs have been forced to play more double tightend formations that Gruden would like. With the offensive line blocking woes, especially at tackle, the Bucs have been forced to keep two tightends on the field to help block. Much like Alex Smith Stevens is a threat to block and to catch.
This isn't the first time Gruden has done somthing like this, Gruden has a history of gambling on troubled but talented players. Sometimes it works out like Chris Hovan did, and other times it doesn't work out so well, i.e. Ryan Leaf and David Boston. Either way the Bucs typically don't give up a lot.
Although on the down side, Stevens often has difficulty driving a car (he has been arrested thrice for driving offenses), is considered a dick by most other players (there's a reason he was kneed in the balls by Tyler Brayton), and needs to learn how to spell his first name.
Maybe I'm wrong on this, but assuming he's not the number one tightend Stevens could be a valuable addition.