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I think that they are certainly in the same zip code.
If I had to pick one, I'd pick Smith (though I am not sure how much of that is some nagging prejudice I have that Waddle is benefitting from Miami's "gimmick" offense).
My guess is that one the theory of the next guy always signs for a little more than the previous guy, Waddle re-signs for a sliver higher than this.
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