We can debate all day long whether what Michael Vick did is really horrible (due to the intentional cruelty involved), or not that big a deal (due to it involving animals which the soon to be former Governor of Alaska likes to shoot from helicopters). But either way, he should be eligible to play in the NFL this season.
The idea that Roger Goddell is going to cook up a new NFL punishment likely involving a suspension is purely a public relations ploy. Why couldn't Goddell have figured out Vick's NFL punishment two years ago while he was in prison? The facts have not changed, and by being in prison Vick was effectively suspended from the league for two years already. Even if Goddell comes up with a one -year suspension, it should be credited as served concurrently with Vick's first year in prison. If it isn't, it essentially amounts to a three-year suspension.
I'm not a fan of Vick the person by any means, and I don't think he ever was all that good a player. But this guy paid for his crime, lost most of his money and already missed two seasons. Tacking on an NFL suspension on top of that would just be kicking an easy target while he's down to bolster Goddell's "law and order" credentials. If anyone should bar Vick from playing in the NFL, it's the teams that decide he's no longer good enough to play.