Steelers sign WR to 5 year deal...

No, not that one, instead it's Antonio Brown.

http://www.nfl.com/news/story/09000d5d82add813/article/antonio-brown-pittsburgh-steelers-strike-425m-extension-?module=HP11_headline_stack

There are also rumours that they are now looking to trade Mike Wallace. To me it seems like a reasonably sensible decision. It locks up one of their better offensive players and makes a statement that they aren't going to be messed with in contract negotiations. Wallace will now have to either crawl back with his tail between his legs (and probably settle for less than he was demanding) or face playing for a different club this year.

What does everyone else think?

Is Brown a one year wonder would be my only question. Wallace has produced consistently I would give up a second for Wallace maybe not much more.

Brown is better than Wallace

Numbers would suggest otherwise. I don't know if Brown will produce consistently but I haven't watched much of the Steelers

Brown a much more rounded WR than Wallace, would much rather have Brown in years to come.

Considering they've spent the offseason installing a new offensive system they must think that Brown is their man. Wallace must be pretty furious at the moment.

they offered it to Wallace and he turned it down

Well nobody was willing to give up their 1st for Wallace, but they should get at least a 3rd for him.

The Steelers are pretty good at finding WRs after the 1st day of the draft (Wallace and Sanders in the 3rd Brown in the 6th) and they added two rookies this year, so must trust themselves to replace Wallace if he's not willing to stay.

I would have loved for the Pats to get Wallace. His stats are great, hell for a 3rd I would love to still get him!

Wallace's stats are great because he's fast. If the Steelers can live without him it makes sense to go to a team that needs that deep threat, like the Pats (who haven't really had that threat since losing Moss). But it means he also will likely have a relatively short shelf life as he won't stay fast forever. That said, I wouldn't anticipate his speed dropping off within the next 2-3 years, barring injury. The real question is what he's like in the locker room. Is he full of his own hype (hence the Steelers being cautious), or this all about their lack of cap room?