I have no idea what he has left in the tank but he is not far removed from his best years in the NFL. In 2007, Lee had 48 receptions for 575 yards and 6 TD's. In 2008, he had 39 receptions for 303 yards and 5 TD's.
After playing with Brett Favre for three years, I would have to guess he can catch the rock and at 6' 4" and 250 lbs he should be able to kick out a linebacker or seal off a defensive end in the run blocking game.
Lee played college ball at for Mississippi State before he was drafted by the Miami Dolphins in the fifth round of the 2003 NFL draft. He also caught Brett Favre's last pass in a Green Bay uniform during the the NFL Championship.