Pass. Bill did a good job getting rid of problem players this year and offseason. There's no reason he should bring one in.
See, I don't think of OchoCinco as a problem player, and I don't think Belichick thinks of him as a problem player. He likes having fun on the field, but he's not a guy that you hear pouting or see not playing hard. BB has been pretty consistently effusive in his man-love for OchoCinco over the years, there's no reason to believe it's not genuine.
And yeah, the Pats need to improve primarily on the defensive end... but that sure as hell doesn't mean that you don't improve the offense whenever you can as well, especially if it's a relatively low-cost acquisition (and I'm assuming it would be). That's just a nonsensical line of thinking.
You've also got to think that they're at least a LITTLE disappointed with neither Tate or Edelman really taking the next step this year, they both had their moments on the return units but neither really stepped into that third-wideout role that they would have wanted. Taylor Price, they'll give him some more time but they can't be counting on him. They'll bring in some veteran to compete for reps at wideout; why not a guy that could easily be the #1 receiver (again, assuming the cost is reasonable?).