The Terrell Owens saga had a direct effect on three teams -- most notably the Ravens, who lost the Pro Bowl receiver to Philly after trading with the Niners for him. AP

They say there's no real offseason in the NFL any more, but there is a near-constant assessment and analysis of how every team's offseason is progressing. Go figure.

With free agency now at the three-week mark and finally slowing down to the point of only the occasional headline deal, and the draft still a month away, here's a team-by-team breakdown of how the offseason of 2004 looks from this vantage point. You have your winners, your losers, and your DNP's (did not pay). Let the temperature readings begin:

Arizona Cardinals

Boldest move: Landing pass-rushing defensive end Bertrand Berry was one of the more underrated acquisitions of this offseason. Berry is the type of productive contributor that every team should be seeking in free agency.

Biggest loss: The Cardinals let veteran quarterback Jeff Blake walk, and signed ex-Buc Shaun King to back up untested starter Josh McCown. That swap means they're pretty thin in terms of experience at the game's most pivotal position.

Our take: Arizona has a new head coach in Dennis Green whose track record in terms of personnel deserves at least the benefit of doubt. But by now Green realizes it's not going to be easy to get quality free agents to join his cause in Tempe. Cards are pinning everything on that new stadium in 2006.

Gained or lost ground: A slight gain.

Atlanta Falcons

Boldest move: With Rich McKay in place as general manager, and Jim Mora a surprise hire as head coach, the Falcons have shook things up in a big way. The tandem has brought some much-needed energy to town, matching the bold-stroke style of owner Arthur Blank.

Biggest loss: Having failed in their attempts to induce either Jeff Garcia or Billy Volek to sign on the dotted line, the Falcons still don't have a quality insurance policy behind the franchise, quarterback Michael Vick. And we all saw where that approach got them last year.

Our take: Throwing big money at a mid-level cornerback like Jason Webster seemed to be the kind of move you make just to make a move, but that's where the cornerback market was in free agency. Adding defensive tackle Rod Coleman made much more sense. Quality young players are what you covet in free agency.

Gained or lost ground: Gained.

Baltimore Ravens

Boldest move: You mean other than the blockbuster trade they thought they had made to finally acquire a No. 1 receiver (see Owens, Terrell)? Other than that, the Ravens have used their surplus cap space wisely, resigning two of the stalwart offensive linemen -- Mike Flynn and Orlando Brown -- who helped pave the way for Jamal Lewis' monster season in 2003.

Biggest loss: Uh, that would be Owens, the one who got away. The last time a guy effectively talked his way out of Baltimore he wound up in the Hall of Fame. Somebody named Elway. Went to Denver, I think.

Our take: Obviously the Ravens have a lot of work to still do on the receiver front, because that was already their weak link, and it just got weaker with the defection of Marcus Robinson. Providing Jamal Lewis gets past his legal issues, Baltimore will be OK. Things are always so newsy with the Ravens, but they never panic.

Gained or lost ground: With Owens, it would have been a significant gain. Without him, they've pretty much held their ground.

Buffalo Bills

Boldest move: Talking Troy Vincent into becoming a Bill was big, because Antoine Winfield left an obvious void at cornerback. Vincent isn't the long-term answer, but it was a nice enough recovery for a team that hasn't made too many shrewd moves in the past two years. Buffalo does deserve kudos, however, for hiring Sam Wyche as its quarterback coach.

Biggest loss: After looking like the front-runner out of the box, the Bills let the Drew Henson sweepstakes kind of drift off their radar screen. Volek turned down their offer as well, leaving them with nobody to push veteran quarterback Drew Bledsoe. It looks like they're banking on the draft to remedy the situation.

Our take: We like new head coach Mike Mularkey a lot and believe he'll wind up being a good hire in time. But let's just say the Bills are still struggling to build some positive momentum.

Gained or lost ground: Lost a bit.

Carolina Panthers

Boldest move: Maybe it was more logical than bold, but making sure that emerging star receive Steve Smith didn't go anywhere in restricted free agency was job No. 1, and the Panthers got it done. Carolina wouldn't be close to the same team without his play-making skills.

Biggest loss: Seeing guard Jeno James sign with Miami hurt. You don't want to overpay for guards, but James was a young, better-than-expected player whom the Panthers had developed themselves. Last season he was a big part of Stephen Davis' first-year success in Charlotte.

Our take: If the Panthers find a way to address their defensive backfield issues in the draft, it can still be a solid offseason for the Super Bowl losers. They've kept just enough of their core together to have a shot at more good things in 2004.

Gained or lost ground: Held their ground.

Chicago Bears

Boldest move: The Bears gave offensive right tackle John Tait a contract that rewards him as if he's one of the game's premier left tackles. At least that took the attention off the fact that Chicago was the only team willing to pay running back Thomas Jones starter's money, despite him having yet to prove he can handle the job.

Biggest loss: It seems like the Bears just nodded off and let guard Chris Villarrial slip away to Buffalo. Their offensive line isn't deep enough that they won't feel that.

Our take: Let's not overlook the fact that hiring head coach Lovie Smith was a move that put Chicago heading into the right direction. But its personnel calls have left something to be desired this offseason.

Gained or lost ground: Lost a bit.

Cincinnati Bengals

Boldest move: They went out and spent fairly big on middle linebacker Nate Webster, who couldn't really handle that position as a fulltime job in Tampa Bay.

Biggest loss: Cincy looked as if it had Warren Sapp locked up, which would have at least given it something to hang its hat on in free agency.

Our take: With Artrelle Hawkins and Jeff Burris gone, the Bengals really need to land the likes of Bobby Taylor at cornerback. On another front, naming Carson Palmer the starter from day one -- rather than incumbent Jon Kitna -- carries its own risk factor.

Gained or lost ground: Lost.

Cleveland Browns

Boldest move: Signing quarterback Jeff Garcia and finally cutting the cord on the Tim Couch era. It was time, and Butch Davis and Co. knew it. Garcia gives Cleveland an immediate upgrade at the position that has haunted it ever since it re-entered the league in 1999.

Biggest loss: They haven't been any key defections, but Cleveland lost two starters on its underachieving offensive line -- Barry Stokes and Shaun O'Hara -- and hasn't done anything to address the weakness.

Our take: Disarray is too strong of a word, but the Browns don't seem to have a plan. They seem to be making it up as they go along, and that won't get you anywhere but on a roller coaster ride in the NFL.

Gained or lost ground: Gained, solely on the strength of Garcia replacing Couch.

Dallas Cowboys

Boldest move: In stepping up and executing the Drew Henson deal, the Cowboys have positioned themselves well should Quincy Carter have another up and down season.

Biggest loss: Unless you consider losing the under-productive Joey Galloway a loss, and it isn't, Dallas hasn't really had any personnel setbacks of note this offseason.

Our take: Keyshawn Johnson isn't the difference maker he claims to be, but he'll be a plus in Bill Parcells' offense. If the Cowboys can get defensive end Marcellus Wiley back to his play-making form of two or three years ago, they will have upgraded both sides of the ball.

Gained or lost ground: A significant gain.

Denver Broncos

Boldest move: Shipping the unhappy Clinton Portis to Washington for Pro Bowl cornerback Champ Bailey and a second-round pick. Given the Broncos' track record for finding great running backs, the trade was a win-win for Denver.

Biggest loss: Trevor Pryce gets all the pub, but right defensive end Bertrand Berry had 18 sacks to Pryce's 17 1/2 the past two seasons. And Berry is now a Cardinal.

Our take: Getting Bailey and locking up linebacker Al Wilson were key, and if the Broncos get the John Lynch of 2002 or earlier, then their defense is much better off than when we last saw it melting down at Indianapolis in the playoffs.

Gained or lost ground: Gained a bunch.

Detroit Lions

Boldest move: Overpaying to land guard-center Damien Woody, who some how commanded a $9 million signing bonus, setting a standard for an interior lineman. It's the same old problem: Bad teams have to coax free agents to town with the long green. But hey, Dre' Bly turned out OK.

Biggest loss: Woody's acquisition meant there was no place for guard Eric Beverly. But the Falcons snapped up Beverly, because he's no slouch.

Our take: With Woody and cornerback Fernando Bryant signed during free agency, the Lions at least continue to add solid players around their young core group. It's not enough to start talking playoffs, but things are at least headed in the right direction.

Gained or lost ground: Gained.

Green Bay Packers

Boldest move: Making sure they franchised and then re-signed offensive tackle Chad Clifton, who a year ago at this time was still trying to overcome the effects of that cheap-shot, season-ending hit by Warren Sapp in November 2002.

Biggest loss: Would you believe punter Josh Bidwell, who signed with Tampa Bay? That's how low-profile this offseason has been so far for the Pack.

Our take: Green Bay is banking a lot on this year's draft, and most of the upgrades still need to come on the defensive side of the ball. The juiciest question still unanswered is whether the team can afford to take a first-round quarterback like J.P. Losman as Brett Favre's heir apparent?

Gained or lost ground: Held their ground.

Houston Texans

Boldest move: Sliding that $10 million signing bonus across the table at free-agent tackle Todd Wade, who probably trampled Texans officials in his haste to grab a pen and sign. Houston took a money's-no-object approach to a player that few believed would strike it rich.

Biggest loss: Defensive tackle Steve Martin, who signed with Minnesota, is a handy enough player to have around. But the Texans were lucky enough to be the team that landed defensive tackle Robaire Smith, who will upgrade the position considerably.

Our take: The pesky little Texans had money to spend, and boy did they. Wade and Smith were the beneficiaries of the largess, and while the money might have been out of whack, it's hard to argue that Houston's two lines aren't a darn sight better than they were in 2003.

Gained or lost ground: Gained.

Indianapolis Colts

Boldest move: In essence, when Jim Irsay awarded Peyton Manning with that $34 million signing bonus, they became partners in ownership of the Colts. Manning's fate was so closely tied to the franchise's fate that Irsay had no real choice but to get something done with his quarterback.

Biggest loss: The problem with the Manning deal was that it came a year too late. It would have been much cheaper had the Colts not backed themselves into a corner with the franchise tag in 2004. The size of the Manning bonus essentially left the Colts on the sideline looking in at free agency.

Our take: Players like tackle Adam Meadows, linebacker Marcus Washington, and cornerbacks David Macklin and Walt Harris were sacrificed in order to get a deal done with Manning. That means Manning won, and the Colts lost.

Gained or lost ground: Lost a bit.

Jacksonville Jaguars

Boldest move: Playing the Mark Brunell situation just right, and extracting a third-round pick from Washington, even after it looked like Brunell could be had for free upon getting his release. That's the way you make leverage work for you.

Biggest loss: In the cornerback signing frenzy, the Jaguars lost a decent player when Fernando Bryant signed with Detroit. Jacksonville has added Dewayne Washington, Lewis Sanders and Juran Bolden at corner, but that's a case of quantity over quality.

Our take: It still feels like the Jags are a team on the rise in 2004. They made no big splashes in free agency, but they've got a team that looks ready to make some noise in the AFC South.

Gained or lost ground: Gained.

Kansas City Chiefs

Boldest move: Deciding to re-sign their safety tandem -- Jerome Woods and Greg Wesley -- to very sizable deals despite seeing both players toasted (along with the rest of the K.C. defense) in the playoffs at home against Indianapolis. Status, meet quo.

Biggest loss: Not having right tackle John Tait, the team's first-round pick in 1999, will hurt the Chiefs' ultra-productive running game. But Kansas City still was right not to go wild and match Chicago's too-generous offer sheet.

Our take: The Chiefs prioritized taking care of their own free agents this year, and for the most part they accomplished it. But the problem is that the Broncos and Raiders have both improved in the AFC West, and K.C. looks like it was satisfied with running in place.

Gained or lost ground: Lost a bit.

Miami Dolphins

Boldest move: Gambling that A.J. Feeley, the Eagles' third-stringer, is the answer at quarterback. You get the feeling that not even the Dolphins are all that sure, since they went and re-signed incumbent starter Jay Fiedler, whose play was the inspiration for the Feeley acquisition.

Biggest loss: The Dolphins have blown up their offensive line, which frankly was overmatched at times last season. Just ask Ricky Williams. But while tackle Todd Wade hit the jackpot with Houston, and thus couldn't be retained, it'll be interesting to see if either John St. Claire or Damion McIntosh can replace him.

Our take: Give the Dolphins credit for trying. Their front-office maneuvers didn't work out too well this offseason, but they're not taking a passive approach to upgrading the roster. As the David Boston deal personified. Is it all sound and fury, signifying nothing? Or will it work?

Gained or lost ground: Gained.

Minnesota Vikings

Boldest move: Doing whatever it took to get free-agent cornerback Antoine Winfield signed and sealed. The Vikings say Winfield was their only target in the crowded cornerback market, and they stole him out of the clutches of the Jets at virtually the last minute. Is he the No. 1, shutdown corner the Vikings have long lacked? That's the question.

Biggest loss: Defensive coordinator George O'Leary. OK, so his undermanned unit couldn't keep up the blistering pace it set in the season's first half. But with Minnesota losing no players of note, O'Leary leaving for Central Florida might make as big an impact as anything.

Our take: This is a team that was one play away from winning its division and finishing 10-6 last season. The moves they've made so far this offseason should turn playoff contention into playoff reality.

Gained or lost ground: Gained.

New England Patriots

Boldest move: We think it rather bold when you make the decision to let go of your leading rusher of the past three years -- Antowain Smith -- without so much as a fight to keep him. Especially when you've won a couple of Super Bowls with him in that role. Add to it that New England has yet to do anything at running back other than the re-signing of Kevin Faulk and Patrick Pass. They'll use the draft to address the situation.

Biggest loss: Nose tackle Ted Washington had a pivotal run-stuffing role last season for the Super Bowl champs. But he was a situational player, was looking at pretty big money on the open market, and the Patriots, as Ty Law has discovered, will deviate from their budgetary guidelines for no one.

Our take: New England might miss Washington and guard-center Damien Woody, too. But the far likelier possibility is that they'll plug a couple more team-oriented players into those spots and keep right on rolling.

Gained or lost ground: Lost a bit (for now).

New Orleans Saints

Boldest move: Applying the franchise tag to defensive end Darren Howard wasn't really bold, because the Saints were intent on keeping him all along. It's just that he's really not befitting a franchise tag at his current level of production (five sacks in 2003), so New Orleans had to convince itself that he will grow into it.

Biggest loss: Fullback Terrell Smith, whose role in clearing out holes for Deuce McAllister the Saints consider pivotal, got away to Cleveland. But New Orleans has a restricted offer sheet out on Washington fullback Bryan Johnson and are hopeful that the move offsets the loss of Smith.

Our take: Nothing much to get excited about in New Orleans, but the Saints were wise to lock up cornerback Fred Thomas and Howard, two of the best young defenders. The rest of their moves have been of the second-tier variety.

Gained or lost ground: Held their own.

New York Giants

Boldest move: Actually trying to sell the signing of two free-agent Cleveland offensive linemen -- Barry Stokes and Shaun O'Hara -- as an upgrade. The Browns had their own O-line mess to deal with last season, and now 40 percent of their problems are in New York.

Biggest loss: Not that we thought him much of a playmaker, but defensive tackle Cornelius Griffin took the money and ran to Washington, while the best the Giants could do to replace him was ex-Viking Fred Robbins.

Our take: The Giants have picked up a few nice pieces in linebackers Barrett Green and Carlos Emmons, but then again they lost Michael Barrow and Dhani Jones. I don't really see any substantial improvement there.

Gained or lost ground: Held their ground.

New York Jets

Boldest move: Sending a second-round pick to Tennessee for restricted receiver Justin McCareins, whose potential exceeds his production as the fourth year of his career approaches. But McCareins flashed enough of the goods last season to make the deal a solid bet, and he'll help Jets fans forget about Laveranues Coles.

Biggest loss: The only players New York has lost this offseason were dead-wood types. The Jets' big regret has been losing out on cornerback Antoine Winfield, who signed with Minnesota hours after giving a verbal agreement to New York. That the Jets' secondary also came up short in the pursuit of John Lynch didn't help matters.

Our take: New York is a team in transition, and the defense especially is in a state of flux. At least the team's long Mo Lewis/Marvin Jones era is over and something better might be on the way.

Gained or lost ground: Maybe a slight gain.

Oakland Raiders

Boldest move: You can't get a lot bolder than throwing big money at Warren Sapp at this stage of his career. With Sapp and Ted Washington to plug up the middle of the defensive line, the Raiders are at least trying to give themselves a solid base up front to build around.

Biggest loss: Assuming that Sapp and Washington well compensate for the loss of defensive tackle Rod Coleman, the Raiders' riskiest proposition might be letting outside linebacker Eric Barton get away to the Jets.

Our take: After last season's debacle, the Raiders have at least been aggressive in the marketplace. The quarterback issue still hangs there for new head coach Norv Turner to ponder, and Oakland could still use a tackle.

Gained or lost ground: Gained.

Philadelphia Eagles

Boldest move: The Eagles know their time is now, so they closed their eyes and gave injury prone free-agent defensive end Jevon Kearse 66 million reasons to help them win a Super Bowl.

Biggest loss: No less an authority than quarterback Donovan McNabb has bemoaned the Eagles' loss of veteran leadership in the form of recent free agency subtractions like Jeremiah Trotter and Hugh Douglas. I'm guessing Troy Vincent is going to be missed in that locker room, as well.

Our take: Between the Kearse signing and the Terrell Owens trade, the Eagles have finally broken out of their play-it-conservative personnel mode. But they had the money to spend, and after three consecutive NFC title game disappointments, it was imperative that they show some brass.

Gained or lost ground: Gained.

Pittsburgh Steelers

Boldest move: The Steelers want to run the ball with authority again and are shifting more of the focus of their offense that way. But is free-agent signee Duce Staley dramatically better than Amos Zereoue, who was released? Staley wasn't stuck in a backfield rotation in Philly because he was head and shoulders a No. 1 back.

Biggest loss: Player-wise, the Steelers haven't suffered any big blows. But I'm curious to see what effect offensive coordinator Mike Mularkey's departure has on Pittsburgh. Mularkey is now Buffalo's head coach, and ex-tight ends coach Ken Whisenhunt got the promotion to O.C.

Our take: What's there to give Steelers fans much confidence that they've close the gap on Baltimore and even Cincinnati? Pittsburgh mostly re-signed their own free agents, and that's a group that was at least partly responsible for the Steelers underachieving at 6-10 last year.

Gained or lost ground: Held their ground.

St. Louis Rams

Boldest move: The Rams sat tight and picked their spots for a very selective dip into free agency. Letting defensive end Grant Wistrom go created a hole in their line, but it also kept the cap situation from getting out of hand. Sometimes the best decisions you make are the ones to do nothing.

Biggest loss: Wistrom is the only impact player the Rams lost. He's a high intensity, high effort type, who was also good in the locker room. But again, at what price?

Our take: With the signing of Chris Chandler this week, now we're really confused about the Rams quarterback situation. Are you asking us to believe that either Chandler or Kurt Warner are OK with the idea of serving as the potential No. 3 passer? Or is Marc Bulger headed back to emergency QB status, from whence he came? I smell a Warner trade rumor surfacing.

Gained or lost ground: Lost a bit.

San Diego Chargers

Boldest move: About the only bold action you can find is that the Chargers were willing to cut their losses with receiver David Boston after just one disappointing season. It also speaks to how much Boston was disliked if head coach Marty Schottenheimer and general manager A.J. Smith -- who both need to win now  were willing to virtually give away one of the few playmakers San Diego has.

Biggest loss: The Chargers wanted Mark Brunell, but were beaten out by the Redskins in trade talks with Jacksonville. So why didn't San Diego jump on Jeff Garcia as their short-term answer at quarterback, which would have allowed them to shop the No. 1 pick for as many selections as possible? Instead they re-sign Doug Flutie to a three-year deal. Huh?

Our take: Boston is gone. So too is Marcellus Wiley. No big names have been added in free agency. Is this team even trying to win?

Gained or lost ground: Lost plenty.

San Francisco 49ers

Boldest move: Letting Jeff Garcia leave town could backfire if Tim Rattay isn't ready for the promotion he just got. Rattay looked great in two of his three starts last season. But that's a pretty small sampling of work to base the release of a three-time Pro Bowl quarterback on.

Biggest loss: Hey, I liked what I saw of receiver Brandon Lloyd at the end of last season, too. But playmakers like Terrell Owens do not come around too often, and in the final analysis, the 49ers ended their marriage to him because neither side ever found a way to make it work.

Our take: This is a franchise that looks like its only goal the next few years is to play budget ball. With Julian Peterson, Kevan Barlow and Ahmed Plummer re-signed, there's still some talent around -- but not enough to make life tough for the Rams and Seahawks.

Gained or lost ground: Lost a lot.

Seattle Seahawks

Boldest move: Overpaying defensive end Grant Wistrom to the tune of a $14 million signing bonus. The Seahawks had to land a quality defensive lineman, and they did. But they didn't get their money's worth at that price tag. Wistrom owes Jevon Kearse's contract a debt of thanks.

Biggest loss: The Seahawks weren't counting on defensive tackles John Randle or Chad Eaton for another season, so that leaves only the exit of safety Reggie Tongue as notable.

Our take: Just being able to keep their own free agents like receiver Darrell Jackson, Cedric Woodward and Isaiah Kacyvenski made this month a success. On top of that, if you can look past the signing bonus, Wistrom is a solid addition who keeps the Seahawks competitive with the Rams.

Gained or lost ground: Gained.

Tampa Bay Buccaneers

Boldest move: It would have been more popular had the Bucs tried to keep Warren Sapp and John Lynch and their great defense of yesteryear together. But it wouldn't have been the right thing to do for where Tampa Bay needs to go from a cap standpoint.

Biggest loss: Head coach Jon Gruden's constant offseason flirtations with quarterbacks such as Mark Brunell, Jeff Garcia and Rich Gannon hasn't cost him anything. Unless you consider the confidence and trust of incumbent quarterback Brad Johnson to be of value.

Our take: With Rich McKay no longer around to play his restrictor plate role, Gruden has thrown bargain basement offers at just about every third free agent in the league, and quite a number of them have taken him up on the proposal. Gruden's loving this fantasy football world he's living in, but let's see how it all fits together come training camp.

Gained or lost ground: Gained.

Tennessee Titans

Boldest move: The Titans know they could have franchised defensive end Jevon Kearse and then gotten something in return for him in trade. But to do so, they would have to cut even more players to free up the cap room to apply the franchise tag. It was a no-win situation, but the Titans decided letting Kearse go free of charge was better than losing multiple players.

Biggest loss: It's not like the Titans don't have experience in playing without Kearse these past two years, given that he missed 14 games over the span of 2002-2003. But Tennessee really needs to locate some outside pass rush in the draft, or Kearse's absence will really be felt.

Our take: All things considered, given their cap situation at the start of the month, the Titans didn't fair too badly in losing Kearse, defensive tackle Robaire Smith, and trading receiver Justin McCareins. Players like Keith Bulluck, Drew Bennett, Billy Volek and Erron Kinney all re-signed, keeping a decent nucleus intact.

Gained or lost ground: Lost ground.

Washington Redskins

Boldest move: Uh, that would be dusting off Joe Gibbs after 11 years on the shelf. Let's wait until we see if Gibbs can cope with today's cap-driven NFL before we declare the move a masterstroke, but until further notice the three-time Super Bowl-winning head coach gets the benefit of the doubt.

Biggest loss: The Redskins decided to pay LaVar Arrington and move Champ Bailey. I think they got it exactly backwards. Good cornerbacks are worth far more than overrated linebackers. Every time.

Our take: Change the coach's name and those of the newly signed players, and this could be almost any of Washington's offseasons from the past five years. The more things change, the more they stay the same.

Gained or lost ground: Gained.

Don Banks covers pro football for SI.com.