Personally, I think that they need to do a serious evaluation of Chad Pennington's health, and consider whether or not he can be the franchise QB everyone thought he would be.
If the Jets are going to stick with Penny, Reggie Bush should, without a doubt, be the target. The Jets need a playmaker on offense, and Reggie Bush is obviously that guy.
If the Jets do not feel like Pennington can be their franchise QB, then I would look to take Vince Young, because of his playmaking abilities. This offense is lacking excitement, and Vince Young/Reggie Bush would make the O a lot faster and a lot more athletic.