Yeah man, he's like Lenny Wilkens. He was a player coach for a couple of teams (I think both Portland and Seattle). Pete Rose was a player/coach as well. I know there have been a few player/coaches that played football back in the old days. But I haven't seen one in a while.
The last guy I remember having the opportunity was Jason Kreis who coaches for Real Salt Lake in the MLS. He was given the chance to coach, but he retired that night and just decided to coach and has done well at it. He was a fiery player, but was cool as a cucumber too when it came to crunch time. To be able to step away from the game one night and be on the sidelines coaching the next day in a suit and tie was pretty amazing. He wasn't really that old either. He just decided to be the best coach he could he'd have to walk away.
Lenny's situation was different in that he was also a point guard and it made sense because he was leading the team either way.
Some would say that Peyton Manning was the Colts player/Coach or at least Player/offensive Coordinator for about 10 years there. I don't really doubt it either.