If this is the most current depth chart prior to the draft--
http://dallascowboys.com/team_depthChart.cfm
--then it's Austin, Crayton, Glenn, Hurd, Owens, Rector and Urban. Rabb and Jefferson signed on as free agents:
http://dallascowboys.com/news.cfm?id=4A2E770E-CD99-C8B1-CC3BD7556A821406
--and add Stanback to the mix.
Urban, Rabb and Jefferson are camp fodder.
Whether he's returning kicks or not, Austin is too good enough of a special teams player for the team to lose at this point.
Glenn and Owens are no-brainers.
Great hands out of the slot and versatility as a (possibly emergency backup) ST returner will keep Crayton as the third WR (for the moment).
That leaves Hurd, Rector and Stanback.
Hurd has been an undrafted free agent project (and receiver protege of Owens). I think that Rector has been activated for a few games, but other than that, he's been stuck in practice squad mode.
IF Stanback comes in, displays his outstanding pre-injury speed, good hands and return skills, I think that will be enough to unseat Hurd. In that scenario, I see Hurd getting cut, Rector staying on the PS and the WR set being: Glenn, Owens, Crayton, Stanback and Austin.
SHOULD Stanback struggle for any reason, I see Stanback being moved to the PS, Rector getting cut and the WR set being: Glenn, Owens, Crayton, Hurd and Austin.