Offline
I don't know if Smith will be to expensive. Vollmer's (who is arguably better) new contract has him making 1.25 million with no bonus and a couple incentives that add up to another million if he plays 90% of the snaps and makes the probowl. It really only goes up a little for the next three years as well.
Vollmer did not sign for $1.25 million. While I think his contract was a bargain (and would have loved the Saints to sign him for that), it was not that much of a bargain. Most contracts have a low first year base, but you cannot ignore the remaining years or the signing bonus.
Breaking down Vollmer's contract - New England Patriots Blog - ESPN Boston