I haven't seen an official report that he signed which includes the terms...only strong speculation, so I think it's an accurately titled thread (maybe I'm a little biased though :)
As for Greg, I see what you're saying pack 93z...the top 5-12 or so WRs in the league are subjective and cloudy, so Greg could fit anywhere in that mix. If I were running the team, however, I think his tremendous character (e.g. how he handled this contract situation) and leadership on the young team is more than worth debatably overpaying him.
As someone else pointed out, too, I bet he gets the 30 mil (or w/e the contract is) from the raiders or some other team on the open market.