After Cincinnati’s complete heist from Oakland — in which the Bengals nabbed first and second-round picks for a sub-par, but big name quarterback (Carson Palmer) — I think it’s time to re-evaluate the value of a draft pick.

Since 2002 there have been a number of teams trading high picks hoping for a shot at a franchise quarterback. Some have had success, some have not. Let’s see how Oakland perceives Palmer’s value using the NFL Draft Value Chart.

2002: Bills trade No. 14 pick to the Patriots for Drew Bledsoe.

2004- Dolphins trade No. 35 pick for A.J. Feeley.

2006- Dolphins trade No. 51 picks for Daunte Culpepper.

2007- Texans trade No. 39 pick, and swap first-rounders (No. 8 and No. 10) for Matt Schaub.

2009- Chiefs trade No. 34 pick for Matt Cassel (with Mike Vrabel). Note: not including Vrabel’s value.

2009- Bears trade No. 18 and No. 84 picks in 2009, the No. 11 pick in 2010 draft and Kyle Orton for Jay Cutler (ended up being Johnny Knox). Note: Assuming Orton has a fourth-round value.

2010- Redskins trade the No. 37 pick and No. 104 pick for Donovan McNabb.

2010: Seahawks trade the No. 89 pick and swap second-rounders to land Charlie Whitehurst.

2011- Cardinals trade a 2012 second-round pick and Dominique Rodgers-Cromartie for Kevin Kolb.

Note: As of right now, that would be the 39th overall pick, and let’s assume Cromartie’s value is the 50th pick.

2011- The Raiders trade a 2012 first-round pick and a 2013 second-rounder for Carson Palmer.

For arguments sake, let’s assume their current positioning (No. 22) for the next two drafts, which is the best-case scenario for Oakland.

So what did we learn? The draft value from lowest to highest went: Charlie Whitehurst 345, Daunte Culpepper 390, A.J. Feeley 550, Matt Cassel 560, Matt Schaub 610, Donovan McNabb 616, Kevin Kolb 910, Drew Bledsoe 1106, Carson Palmer 1140 and Jay Cutler 1384.

So let’s put the Palmer trade into perspective.

Oakland views a guy who the Bengals didn’t even want, and is 14-22 since 2008, as being of equally value as a Jay Cutler-type (conversely 28-26 since 2008). Also, he has about twice the value as starters Matt Cassel, Matt Schaub, and Donovan McNabb.

Translation: if Cassel was offered for Palmer, Oakland would only say yes if the Chiefs threw in a first-round pick. Delusional, right?

I know Oakland was in dire need of a quarterback, but to overpay for a bad one?

Doesn’t anyone remember as far back as last year? Wouldn’t his value be equivalent to Culpepper’s in 2006? Couldn’t they have landed Jake Delhomme for free?

My head hurts. Ladies and gentleman, your 8-8 Oakland Raiders!