Culpepper seems to be handling this with a lot more intelligence and class than alot of players would. I think it will help him in the long run.
Player's agents should be the guys making sure their clients know the 'real world' nature of these contracts. Standard contracts aren't the way to go imo. If you can't get the guaranteed money, go for the escalater clauses based on performance, so if you play real well, you get paid for it.....or get released to be a free agent again. Less chance for disgruntlement.
Culpepper, in this case, seems to have a real good grasp of what's going on and is playing the game well. Mature and clever. Looks like the only issue is how long the team holds him up. Miami looks like they are rather desperately seeking some face saving trade. If it were to happen (most likely via Culpepper re-negotiating to his satisfaction with a team he approved of) I would bet it would be a 'conditional' pick, so Miami can avoid the 'traded him for a 7th' embarassament.