FOOCH'S UPDATE: I've posted a new thread, so head on over since this one has gotten pretty full.
Well then. Just when we thought the offseason was going to be devoid of acquisitions, numerous sources are reporting the 49ers have acquired Miami Dolphins WR Ted Ginn. Maiocco confirmed it with an NFL source and the deal is pending a physical. Additionally, a Miami Herald reporter is indicating it is for a Saturday pick (so 4th-7th rounder). If it is in fact a late round pick, I find myself intrigued by this. We'll have plenty more as this story develops!
10:40am update: As indicated in the comments, Chris Mortensen is reporting it's a 5th round pick. I'll have more detailed thoughts in the coming days, but for now I'd imagine people will probably think it's a bit much to give up for a bust of a first round pick. I certainly would have preferred a lower pick, but I can live with it.
Given the fact that Ginn hasn't been returning many punts the last two years (after I believe 24 his rookie year), this could be viewed as a bit of a head-scratcher. If he's primarily going to return kicks, I suppose this supports the notion that the team doesn't want their #2 receiver (Morgan) getting banged up on kick returns. I'd imagine Ginn would get a crack in preseason at returning punts. So, the move leaves me a little perplexed, but at the same time, I can see some options with it. I certainly don't think this automatically rules out any particular draft picks (see Spiller, C.J.). It just gives the team more options.