As a receiver, he doesn't offer a whole lot. He is a complementary guy who break off a big play from time to time. Normally he can provide around 30 catches for 500 yards and a couple touchdowns, though he is coming off a career worst 9 catches on 18 targets despite appearing in all 16 games.
His value has always been more as a return specialist where he was named All Pro in 2012 with a combined 3 return touchdowns. One of those returns was on a punt, the other two on kicks, including a 108-yarder. He had another kick return for a touchdown in the playoffs for the Ravens that season on their way to a Super Bowl win.
There is reason to believe he still has the goods as a return man. He was fifth in the league in return yardage last season and had yet another 108 yard return for a touchdown.
Signing Jones now would not be unlike two offseasons ago when the Raiders signed Josh Cribbs. He too was coming off a Pro Bowl year as a return man and had been named All Pro back in 2009. He was 30-years-old at the time which is the same age as Jones is now. And Cribbs didn't make the team out of camp.
As for the Raiders need for what he brings, it's marginal. They have receivers who can put up the numbers he typically puts up, though it's hard to say whether they have anyone at this time with the athleticism Jones brings.
They also have T.J. Carrie as a punt returner. Jones specializes in kick returns which is a position the Raiders don't have a sure thing at this time. Carrie was pulling double duty much of last season and when he wasn't out there, the kick return job was divvied up between a few players, mostly Latavius Murray and he didn't offer much.
With Taiwan Jones coming back he is likely to be given a shot at taking that job.
For me, the idea of signing him is kind of 'meh'. And you will never hear the words "For the right price" come from me because this isn't about price, it's about roster spots and whether a player taking one of those spots can make this team better. If he can't, price be damned. If he can, the team makes their offer and he decides whether to accept it or find a better offer elsewhere.