Both Steve and his agent have said they expect him to be cut or traded by tomorrow. I'm hoping it is traded so the Titans get something out of it. I've also heard Collins is a possibility. Collins or Volek will be the starter next year. I don't like to see Steve go but I do like to see his contract go.
They wouldn't be able to sign any of the draft class if McNair stayed there, and he's definitely not going to restructure his ridiculously high contract. So, yeah, he gone.