Now that I've acquired T. Jackson to be my backup QB, Delhomme (2/468) is no longer needed. It looks like there's a lot of interest in QBs right now (given all the UFA threads). Delhomme is available for the best offer I receive (even if that offer is a 4th round pick).
FYI, while I'd like to open up the cap space, I'm not desperate, so don't wait thinking I'll have to cut him if I don't trade him. I can roll with 3 QBs if need be.