CHFF recently ran an article:

http://www.coldhardfootballfacts.com/Articles/11_2702_The_future_of_Michael_Vick.html

They make the point that Vick would be an average QB at this point in his carreer.  But he would be an awesome running back.  The post being CHFF they have the stats to back up their claim.

My question: should the Pack try to pick up Vick as a running back?  The offensive possibilities with Rogers and Vick in the same back field seem mind blowing.  Imagine four wideouts with Rogers and Vick.  Or keep two recievers, a tight end Grant, Rogers and Vick.  Then go Wild cat with Rogers split out.  As soon as your opponent catches on to Vick taking the snap and running, have him throw.  Given all of the variations a defense would have to prepare for, the vanilla offense would also be easier.   

My guess is Vick would see it as a demotion.  Also, he wants more money than RB would earn.  But think of the power of that offense.