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I would use the tag on Simms. Just because he isnt the QB of the future for our team, doesn't mean that he isnt somewhere else. Chris Simms has a big time arm and ended any speculation about him being tough in the Carolina game. A team like the Lions, Cowboys, Browns, Packers, Jets, Raiders, or could make good use out of this guy. I think we can get a 2nd or 3rd rounder for him in the offseason. In the right system, he could be a very very good QB.
No the transition tag doesn't give you picks if he is signed by someone else, but it gives you the right to match any contract offer which in this case could be very valuable. No one is going to give Simms big money this year. I think a backup contract like what Griese recieved is the best Simms can hope for right now. I'm sure the Bucs would be glad to match that type contract to have a good young QB who knows the system, who can bring competition and depth, and who could have trade value down the road.
Wasn't aware any tag can be put on Simms. He's a UFA not a RFA.