Free agency started like a lightning bolt at 4 pm on Tuesday. Much to the chagrin of Falcons fans, Atlanta didn't jump blindly into the free agency market and throw money around like Pac-man in a strip club. Instead the Falcons did exactly what they said they would do. They concentrated on their own free agents. First it was Tony Gonzalez, then it was Brent Grimes and next would be Sam Baker. Add them to William Moore and Garrett Reynolds and the Falcons are slowly bringing the band back together.
Coming into the start of the free agent frenzy, Falcons fans had dreams of players like Elvis Dumervil, Darrelle Revis, Steven Jackson and Dwight Freeney. The Falcons haven't gotten any of those guys (or other high impact free agents/available talents) but the longer they wait and the longer names like those sit out on the open market, the lower their value becomes. Right now, Thomas Dimitroff and the Falcons brass are willing to wait it out and see if they can bring somebody in as a value signing instead of overpaying early in free agency. You might as well go ahead and place your bets on college basketball this weekend because by the looks of it the Falcons are in for the long haul.
Take a look at the list of defensive ends, linebackers and cornerbacks still available. I think you have to feel pretty good about the chances of the Falcons ending up with somebody on the cheap if they can scrounge up enough cash.
One other important thing to remember is that the Falcons were only ten yards (and a questionable call) from playing in the Super Bowl last season. This team doesn't need a massive overhaul like some of the teams that are making huge waves in free agency (see also: Miami). The future is bright for the Falcons and the front office brass is going to wait this off-season, see what the market bears and make the right move at the right time.