Here's DeDe Dorsey's schedule in a nutshell. Be the focus of Hard Knocks in a grueling roster battle with Brian Leonard. Sit around on the final cutdown day whether you're going to get cut. When you hear that make the team, you should the emotional reaction as a rusty spoon. Practice hard the next week. Don't get dressed on Sunday because carrying four active running backs would be a bit much. Then, on Monday, get waived.
The Cincinnati Bengals announced, well Tweeted on Monday, that in order to make room for Andre Smith, whose roster exemption expires at 4 PM today, that DeDe Dorsey was placed on waivers.
UPDATE: For those of you wondering if Dorsey is eligible for the team's practice squad, he isn't, as per the eligibility requirements from the Collective Bargaining Agreement.
Section 4. Eligibility:
(a) The practice squad shall consist of the following players, provided that they have not served more than two previous seasons on a Practice Squad: (i) players who do not have an Accrued Season of NFL experience; and (ii) free agent players who were on the Active List for fewer than nine regular season games during their only Accrued Season(s). An otherwise eligible player may be a practice squad player for a third season only if the Club by which he is employed that season has at least 53 players on its Active/Inactive List during the entire period of his employment.
(b) A player shall be deemed to have served on a Practice Squad in a season if he has passed the club’s physical and been a member of the club’s Practice Squad for at least three regular season or postseason games during his first two Practice Squad seasons, and for at least one regular season or postseason game during his third Practice Squad season. (A bye week counts as a game provided that the player is not terminated until after the regular season or postseason weekend in question.)
However don't be surprised if Dorsey returns. It's not unheard of that teams release/waive a guy to make room on the roster. Two years ago, the Bengals released Antonio Chatman heading into the 2007 opener against the Baltimore Ravens, anticipating more of a knock-down drag-em fight; they decided on bringing Dan Santucci back to bolster the offensive line depth. After beating the Ravens, the Bengals waived Nate Lawrie and re-signed Antonio Chatman the next day.