Re-sign him, and the job is his to lose.
After training camp competition, I say we go into this season with Rex as out starter and RGIII holding the clipboard.
Open competition is Shanahan's theme, and I think Rex is not afraid of competition and not short on confidence. I assume he comes back this year 20 lbs lighter, ready to read some defenses, take what they give him, and launch a few bombs to Hankerson. We have young guys ready to step up in this scheme and I don't see RG as a guy too proud to hold a clipboard.
Oh, and Rex gets a 3 game leash.
Boom goes the dynamite.