Sports Illustrated projects him as a free agent and expects him to spend some time on special teams:
Caragein is a fiery and intense defender who gets the most from his abilities yet has limited upside for the next level. He's a potential three-technique defensive tackle if he shows his worth on special teams.
Even as a free agent pickup, there are a few teams that might be interested.
This Jaguars site also projects him as a free agent, but says Jacksonville might be interested, along with the Raiders:
The Jaguars and the Oakland Raiders seem to be interested in Pittsburgh DT/DE Myles Caragein. He is likely to become an undrafted free agent in the 2012 NFL Draft.With his versatility on the line, he might be the Jaguars' next Rob Meier.