I would be willing to cut Freddie. I would hesitate on Leodis. I would only consider cutting Leodis if we signed Revis (I am not comparing the two either). However, even if we sign Revis, Leodis could be the 3rd corner and Graham could play safety. So, I don't see many scenarios where cutting Leodis is a good idea.
Lastly, please, please have Leodis stop returning kicks or punts. He has only had one good season ever and it was not last year. He scares me every time. He always has since the NE game in his 1st or 2nd season. All he had to do was kneel down and we would have won. He is a fumble machine on returns.
It seems like you don't know much about Iupati at all...like spelling his name.