Here is my problem with the Red Bryant situation:
Red Bryant is basically like a good 3-4 end. 3-4 ends are not expected to be pass rushers, they are expected to keep linemen busy and stop the run. Pass rush is a bonus.
That's all well and good, and honestly I don't think Bryant would be a problem at all if Seattle's defense operated more like a 3-4 style defense.
3-4 defenses are built around the blitz. 4-3 defenses are built around "base" (aka front four) pressure. Since Irvin, Clemons, and Bryant are all closer to being 3-4 types, it makes sense that Seattle's pass rush has always looked it's best on the blitz. As I recall, only 8 of Clemons 22 sacks in 2010 and 2011 came from a base pass rush.
So short answer- yes, we'd definitely be better off with a typical 4-3 end manning Bryant's spot so long as Pete insists on trying to get sacks with a base pass rush. But if Pete is willing to blitz more, then I think Bryant would fit that kind of defense well enough.
But in the meantime, the team is basically paying Bryant $7 million per season as a guy that's basically a misfit in Pete's ultimate 4-3 defense. I hope Pete realizes this, and either reverts his defense to being more blitz heavy or searches for Bryant's replacement. Nothing against Bryant, but the $7 million salary average he has is a really big piece of incentive to look for his replacement.
Keep in mind- Bryant's salary in 2013 is fully guaranteed. So if the team wants to move on from Bryant, it won't be painless to do so until 2014 (barring a trade).