Report: Mike Wallace is Dolphins' top target

It's no secret the Miami Dolphins will be looking for a No. 1 receiver when free agency begins in March. The question is which top receiver -- Greg Jennings, Mike Wallace or Dwayne Bowe -- will Miami go after?

According to a report by Omar Kelly of the South Florida Sun-Sentinel, Wallace is Miami's top target. The paper reports the Dolphins are not only preparing to go after Wallace, but they are looking to make Wallace one of the NFL's highest-paid receivers in the range of $60 million overall and $12 million per season.

The Dolphins, with more than $40 million of cap space, certainly has the resources to pay Wallace elite money. Is this the best move for Miami?