Should he and will he are two different things.
I've seen a lot of opinions (not just on the Board) that bemoan what is viewed as a different standard for Vick as opposed to others. I'm not sure I agree, for a number of reasons. First, what Vick engaged in was an on-going criminal act that spanned years; it was not a single, moment in time, event. Second, comparisons with other players is valid only when those players are ones that violated standards since the new standards under Goodell came into effect. When you look at guys like Pacman and Tank Johnson, I don't think there is some kind of different standard. Third, the entire purpose of the new standards is to clean up the image of the NFL; a permanent ban on Vick goes toward that, especially if the announced reason is that he engaged in a conspiracy that spanned years, invloved multiple instances of lying to authorities, etc.
Will he play (assuming he's cleared by Goodell)? I have some doubts. Not that he isn't talented enough, but I have to wonder whether any team is willing to take on the public relations nightmare. Picketing outside the stadium, the possible loss of season ticket holder, loss of merchandising - it's all a real possibility, and could easily offset any possible on-field gain.
Won't be surprised if a team signs him - but I won't be surprised if none does, also.