Per Redskins Insider:

All of the wide receivers, except Antwaan Randle El and Santana Moss, are practicing. Randle El is the top punt returner, but coming off his knee surgery it would seem that the Redskins are taking a chance there. I also am hearing that Jim Zorn is not averse to having Moss return in certain situations as well.

Nothing here that constitutes news, but I like the thought all the same and it is an interesting concept. Keep in mind what had to happen for this to even be a consideration; without Malcolm Kelly and Devin Thomas on the roster, I don't see how this idea ever emerges. Santana Moss has been too valuable (and too injured?) over the past few seasons for us to give him appreciable playing time at the return position. 2005 was the last time he returned a punt (only 7 of them).

Now that we, potentially, have two guys who could compete with Moss for a #1 receiving spot and/or could cement the receiving ranks, it wouldn't baffle me to see Santanaman returning punts should Antwaan Randle-El succumb to injury. The Jets used him to great effect on special teams, particularly in 2002: he had 25 returns for 413 yards with two touchdowns. He was 4th in total punt return yards that season and 20+ returns (9) and touchdowns. His 16.7 average was good for 7th in the league.

And, if Wikipedia is to be believed, Moss:

graduated as [Miami's] all-time leader in receiving yards (2,546), punt return yards (1,196), and all-purpose yards (4,394).

Do we have a more dangerous player in space? You tell me: