Yea the McLeod signing is completely ridiculous, Jenkins is way overpaid too for a guy who was pretty shit until last year, and even last year he wasn't All-Pro or anything. He also gets roasted for big plays quite often.
Apparently the Giants are about to sign Damon Harrison too, I'm actually a big fan of his but not for the supposedly 9 million a year they're giving him. Strictly 2 down players should not be paid that much regardless of how good they are at stopping the run, although I guess when you have as talent deficient a roster as the Giants have you need to do stuff like that.