If you're with an inept organization that isn't competitive, then yeah milk them for everything you can get. But when you're with an organization that is constantly making moves to ensure they stay at a championship level then give them a "competitive" discount. You don't have to play for free but every bit helps when you're GM is working with 53 salaries and a salary cap.
I agree with you but without Drew Brees, the Saints are no longer a contender.
I"m not an advocate of a blank check but the guy is the best in the business.
A large contract is justified, IMHO.
Work some restructuring elsewhere if you have too and have the ability.