WR Terrence Nunn was another one of those Patriots training camp phenoms. He could run, he could catch, he was everywhere, except on the active roster. When push came to shove at the final roster cuts, Nunn didn't make the cut.
The Patriots obviously saw potential in Nunn, who could return kicks, but was better known for making spectacular catches in camp. He has a level of quickness and elusiveness, which make him a danger every time he catches the ball with room to run.
Nunn couldn't break into the lineup because of unique situation on the Patriots roster. Isaiah Stanback was promoted to the active roster when the Patriots needed another receiver because his skill set (QB/WR) was more diverse than what Nunn offered (WR/KR). New England already had two WR/KRs on the active roster, they needed another option, and Stanback gave them that.
There's no doubt Nunn could easily be a solid No. 3 for a team in need of a WR. At the very least he would be a good fourth option.
Nunn's agent told the Boston Globe that it would have been a very difficult decision had the Patriots opted to match Tampa's offer to sign Nunn to the active roster. The Pats just don't have the space for another WR, when they're dealing with defensive injuries.