Here's an excellent article from Jason about possible restructures for the Jets
http://www.nyjetscap.com/2012_Articles/capproblems.html I'm not sure if I'm in favor of postponing more cap hits in the form of restructuring Holmes and Harris, but we'll see what happens.
If the Jets cut both Smiths, Pouha, Pace, Scott, and Tebow, that will save about 34 million off the current projected 141 million dollar salary, which would leave about 107 million dollars in committed salaries. That would leave about 13 million dollars in room for rookies and re-signings, without factoring in rolled over cap space, which could add a certain amount, but I have no idea how much. Long story short, the Jets might be able to resign Landry, but it won't be easy, unless they want to make the same kind of deal that put them in this cap situation in the first place, and guarantee a lot of deferred money. That doesn't seem like the best idea.