I've never seen the kid play, but read a lot about him last night. The Cowboys are high on him, converting him from QB to WR. Could he be another "Slash" type? He has good speed, and is reportadly incredibly ripped, with a physic that rivals Owens.
He also appears to be a hard worker and with a great attitude.
He's recovering from a Liz Franc sprain, which is probably why he slipped, and will likely be a punt returner initially, but there's a solid shot he could develop into a good player.
The PS is a perfect fit for Stanback, it's a place where a player like he can sit there for 2-3 years and develop (or Not) without the urgency of needing to clear roster space. We'll see a couple years from now if this pans out, but I'm more optimistic than my other PS canidates!