The decision to keep King was made last March. At the time Stokes wasn't drafted, very few people knew who Rasul Douglas was and OBJ was a Cleveland Brown. In other words, the Packers made that decision without a crystal ball. With what good starting CB's are paid in the NFL, I was not that unhappy with the King 1 year prove it deal. When he played (11 games) he wasn't great, but he wasn't bad. With the loss of Jaire for a good portion of the season, King was a good player to have.
Would I resign King? Depends on what they can do with Rasul and Sullivan. I doubt there is a big market for King and despite how much he seems to be despised by some Packer fans, at the right price, I would resign him.