well, as far as i'm concerned, i don't rate saviola that extremely high. He DID indeed play for barca and real, but he failed to impress in both. I agree with the general opinion that he was a great prospect 5 or 6 years ago, but he never really got up to the expectations he was put on.
On the other hand, we have to consider, that at this moment, we won't (most probably) buy a huntelaar or something. We simply cannot afford a world-class starting XI striker, and we don't really need one. (and with 'need' i mean 'need to replace delpiero/trez') Of course, in long-term, we need to replace dp (which will be hard enough) and also trez, but at this moment, our focus should not be on the strikers. We have one excellent striker-sub with iaquinta, and imo, someone like saviola could very well be 4th striker for us. if saviola wants to accept that position is a whole other question, but i'd say his price is the only reason not to turn down immediately this transfer. We can't spend 20mio for a DP/Trez-replacement at this moment when we have such a defense-lineup. We just have to face it, this year, we cannot make any bids for the agueros and huntelaars around. If we want to expand our forward-section, then we have to look around for the likes of saviola, and i'd say for those 5mio (or what) you can't get much better than saviola (considering his pretty good age).
That said, imo, i think we should give it a go. Saviola for 5 mio and him accepting the role of 4th striker? OK! Anything more, what goes beyond the +/-7 mio will be too much.
Let's not forget that being a bench-player in real does not necessarily mean that he sucks... i mean with such a big-names lineup, it's kind of difficult to impress... yet, he scored some goals....