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The madness is well and truly underway.

At 4 p.m. ET on Thursday, free agency officially opened across the National Football League. Not that there hadn't been plenty of wildness already.

The "legal tampering" period earlier in the week led to any number of deals being agreed to, although they couldn't officially be signed until Thursday afternoon—deals that led to some happy NFL teams and even happier agents.

Pierre Garcon's rep is looking for a new boat as we speak.

I've already offered up grades for Wednesday's moves, and my esteemed colleague Brad Gagnon will be doing the same for Thursday's signings.

However, there's more than one way to skin the proverbial cat (one of the more disturbing turns of phrase you'll hear), so we're going to look at that latter group a little differently.

Which teams made the best use of their available cap space? Who got caught flat-footed and missed out on the first wave of free agency? And who is joining Garcon's agent at the marina?

In other words, who are Thursday's biggest winners and losers in free agency?