Two things.
1) I think Rudolph would have to be resigned. I think he is a FA and Pickett is currently the only QB on the roster.
2) I wanted this strategy two years ago when they took Pickett. I thought a stop gap FA QB and refilling holes at OL, LB, and secondary was the better approach. We will see. I think I would actually be ok with Rudolph coming back and they let it play out between the two QBs while loading up in the draft on OL, DL, and secondary. FWIW, I heard an interview with the WV C, Zach Frazier on XM the other day and I instantly thought he is Pittsburgh material. Humble kid who plays tough. He was also a 4 time State Wrestling Champ in HS with a career record of 159-2. He won me over.