It's certainly a classy move for a classy player.
Personally, I would have rather John try to recoup as much draft capital from the Percy Harvin trade as possible, since that move made Leon expendable in the first place. At least we minimize his cap hit by releasing him, and open another valuable roster spot for someone who can contribute outside of mostly kick returns. The versatility of Tate and now Harvin will help to avoid that redundancy, and that's a good thing. That vacated roster spot can now be filled with another pass rusher, cornerback, playmaker on offense, or just depth. Solid move.