It does set a bad precedent... guys that don't like the contracts that bind them can act out, get themselves released, and become free agents with no real fallout. The most talented will always be rewarded. Diva players everywhere are getting ideas.
If the Raiders had exiled him without releasing him, they would still have to pay him, right?
I hate to see a team take a moral stand with a childish player and be punished for doing so... just glad the Bills didn't find themselves where the Raiders are today.