Only a few hours ago, we noted the signing bonus given Lerentee McCray by the Broncos, and what it meant.
What it doesn't mean, is that he's good enough for the NFL; the Broncos will presumably figure that out over the next few weeks and/or months.
As an example of how little regard teams can have for undrafted players, consider the case of former Stony Brook running back Miguel Maysonet.
In the leadup to the draft, Maysonet was described as one of the hotter under-the-radar prospects, if one can still be called under-the-radar while catching everyone's attention. In February, Jeff Legwold wrote that Denver had spent a lot of time scouting Maysonet during his prolific 2012 season.
Although nobody used a pick on him, several teams reportedly expressed interest in signing Maysonet, including the Chargers, Bills, Saints, Steelers, and Dolphins.
The Eagles ended up getting him, with what was called the biggest signing bonus among undrafted running backs. Granted, it was only $10K, but still.
One weekend minicamp later, and Philly had already signed Felix Jones and waived Maysonet, who is back finishing up his schoolwork and unavailable for OTA's.
He's now property of the Browns, who claimed him off waivers from the Eagles.
Back to the original point, we should take care not to have any expectations of McCray based upon his signing bonus.
Like Maysonet, he could be gone tomorrow.