I’d rather spend a 7th on a good college punter
Two problems with that.
First, good college punters fail all the time in the NFL. That doesn't mean there's no reason to try, just that there's no guarantee of success.
Second, other teams are drafting, too, so that good college punter that you want could be gone before Dallas pulls the trigger.
I prefer as much competition as possible, so I'd have no problem bringing in King, keeping Jones and signing a UDFA (or even spending a late-round pick on one if the draft falls right). Whatever it takes to make our punting better than it has been the last couple of years.