ESPN (sports.espn.go.com) says the best quarterrback of this generation is returning. While it would make a great story for Favre to lead a resurging Packers team to the playoffs with some healthy running backs, realistically this team would consider itself lucky to wind up with a later draft pick than the No. 5 pick they have this year. Maybe they can get someone with immediate impact on offense - they certainly didn't meet his wish of an impact free agent siging - but I just don't see them doing more than a game or two better than last year.
I do love Favre though, and I take great pleasure in revisiting what apparently were his final home (sports.espn.go.com) and road (sports.espn.go.com) losses against the Bucs (Though the Pack did win in Tampa in 2003; and I won't mention the postseason). This was a great rivalry.
I will also add that I hope Favre really does retire after this season. At the very least, I don't want six more months of "will he or won't he" speculation.