Reports have been coming out that more than six teams are interested in Michael Johnson. He plays a premium position and one that has a lot of demand this offseason. Despite his low career sack average, he still provides a ton of impact plays and has shown great durability and high snap % throughout his career. I wouldn't be surprised to find some team ready to break the $10M APY mark to land him.
As for Collins, he isn't getting much press but when guys like Roger Saffold are being considered for starting LT money (link) then you'd have to believe Collins will get some strong looks too. He's started both tackle positions and played very well in extended playing time this year. It's not unreasonable for him to get a Will Beatty ($7.5M) / Sam Baker ($6.85M) type of deal. That would exceed the APY of what's remaining on Whit's deal through 2015.
Letting MJ93 sign elsewhere is something we should all have been prepared for. We drafted a potential replacement in the 2nd round last year, signed two backups to multi-year deals to ensure we had plenty of depth and extended Dunlap who could have been a UFA. AC is a different story. He's always been there when the team needed him, but he's never wanted to be "the guy" enough to seize a starting role even after six seasons in the NFL. Most of us would love to have him back, but I don't think many can justify what would amount to overspending at this position - especially considering the long-term needs of the team. Plus we may already have the next guy ready to step up and replace them. You never want to be the team holding on to aging stars because you don't trust the next "generation".
New deals for Green and Dalton will average more than $10M/year each and Burfict should easily top $8M/year once he has negotiating leverage. I would rather see the team be smart buyers this offseason, take the reward of what should be extra 3rd and 4th round picks for players we don't need to keep.
These extra picks are far more valuable than the 6th for Manny Lawson or 7th for Pat Sims that we should expect this year. That said, if the Bengals go out and sign some marginal player and we lose out on a comp pick (similar to how Oakland screwed up last year), this would just be bad team management.