All good points.
I chose Jordan because the payoff is bigger if there is an injury. I don't really draft back-ups fearing injury to my squad. Taylor/Mack last year was an obvious time to handcuff. My thinking is if Eddie gets hurt, his back-up options are: Holcombe, a short yardage back, and Brown, a rookie who is now injured and will miss valuable camp time. Holcombe would be the obvious choice. I don't think the Titans have a good O-line, and Holcombe would probably struggle anyway. If Martin gets hurt, I have another starter at RB, who has shown he is capable of filling in.
When it comes to the last few guys on your roster, it is mostly back-ups and WR's you don't want to start.
There's been articles de-bunking the handcuff theory altogether. I take it on a case by case basis, and am more likely to gamble on another owners player getting hurt than my own all other factors being equal. I also generally have access to all NFL games and a computer while I work, so if Eddie gets hurt, I can probably still grab his back-up, who is virtually worthless to anyone but me.
Based on their individual values, Jordan is more valuable. I let that dictate who I take in this situation. I would also take Larry Johnson or Lamar Gordon before grabbing Eddie's back-up.
Just a different way to fill out the last few spots on a roster. Sometimes, the owner of the guy your pick is carrying the jockstrap of will offer you more than your pick is worth. At the very least, they are usually thinking about acquiring him from you somehow.
The meek ain't gonna inherit $#!%....'cuz I'll TAKE IT!