After striking out in their pursuit of Peyton Manning (never wanted to come to Miami), Matt Flynn (apparently low-balled by the front office) and Alex Smith (will likely now re-sign with San Francisco), the Dolphins turned to their fourth (fifth? sixth?) fall-back option: former Jacksonville Jaguars quarterback David Garrard.

A Pro Bowler in 2010, the 34-year-old was unexpectedly released prior to last season’s opener and missed the entire year with a herniated disc. He declined to sign with Miami last year when he couldn’t land a guaranteed contract, and his current one-year deal is, fittingly enough, fully non-guaranteed.

From 2007 to 2010, Garrard started 58 out of 64 games, completing 62.7 percent of his passes and sporting a respectable 71-to-41 touchdown-to-interception ratio. During the time-span, he also led all QBs with 1,109 rushing yards and tied for second in rushing scores (11). In 2007, Garrard led the Jaguars to an 11-5 record, throwing 18 TD passes and tying an NFL record with only three picks.

But again, he’s 34 and coming off major back surgery.

Through Garrard will reportedly have a chance to compete for the starting job with Matt Moore, the signing likely means the Dolphins will, finally, draft a QB in the first round, with Ryan Tannehill behind mentioned as the most likely possibility.

Perhaps just as importantly, Miami has a gaping hole to fill after the trade that sent WR Brandon Marshall to the Chicago Bears last week. The deal is more understandable now, given that details have emerged about Marshall’s inexcusable run-in with a woman in a nightclub, but with top-tier WRs Vincent Jackson (Bucs), Brandon Lloyd (Patriots), Mario Manningham (49ers) and Pierre Garcon (Redskins) headed elsewhere, it’s slim pickings on the free agent market. It’s unlikely the team could land restricted free agent Mike Wallace — especially since his Pittsburgh Steelers teammate Ryan Clark Tweeted that “no one” wants to play for the Dolphins, apparently because of GM Jeff Ireland (good times!) — leaving the likes of Brandon Edwards, Early Doucet and (brace yourself) Tedd Ginn, Jr. as the best players available.

Are you excited yet?

Perhaps we’ll know more about Jeff Ireland’s master plan within the next few days (hours?), but as it stands right now, the Dolphins have traded Pro Bowl WR Brandon Marshall to the Chicago Bears for two third-round picks. Miami, of course, gave up two second-round picks for the talented but controversial wideout two years ago.

It’s possible, albeit unlikely, that the move was done to clear salary cap space to sign Peyton Manning, Reggie Wayne, Pierce Garcon, Dallas Clark, Marvin Harrison, Brandon Stokley, Qadry Ismail and every other past and present Indianapolis Colts pass-catcher who hopes to take his talents to South Beach.

If – at this point, let’s face it, when – Manning signs elsewhere, the Dolphins would conceivably turn their focus to Matt Flynn, as well as hopefully another top-tier WR to replace Marshall (as much as I like Davone Bess, Brian Hartline and Clyde Gates and all). And let’s not even think about what this team will look like if Miami strikes out there.

I’ll reserve further judgment until the dust settles, since as Miami Herald columnist Armando Salguero reports, a team source said to “be patient” (possibly my two least favorite words).