I wonder if this is an indication that he is not expected to ever be able to pass a physical, or just that he is not there "yet", and the Giants just can't wait on him anymore?
And also more kudos to the Giants for sticking with him this long. Showed tremendous faith, or at least tremendous respect for the talent they hoped he could recapture.
Good luck, Chad, in football, baseball, and whatever else you choose to do in your life. I'd guess that no matter what field he goes into, if he works as hard as he did at rehabbing, he'll be a tremendous success.