Colts didn't want him and he wanted to play another year. As a fan I really don't care, let him eat and get his. He did work for us, but it was time to move on and he decided to move on to a team that can contend and needed a receiver. it makes sense.
as far as pat fans go, don't think you're getting the reggie wayne of old. he's not nearly as explosive at the line anymore and his hands aren't as reliable as they used to be, which is part of the reason we had to let him go as he was luck's go to receiver when we needed to covert and he just wasn't that anymore. his route running is still great though and as a third or fourth option he should do fine.