They are a 4-6 team and have been over valued all year long. Many picked them to go to the Super Bowl, and said over 9 wins was one of the best total plays on the board.
Hard to imagine 0-3 run at home? Many thought they wouldn't lose 1, then many said nah.....they can't lose BTB games at home, can they? Well, yes they can. Almost lost to Tampa Bay at home, they did lose to Cincinnati at home. The only game they've really looked good at home was vs Green Bay. They beat a struggling Minnesota team in week 3 @ home, lost to SF at home. Should have lost to TB at home. Lost 2 away games in a dome (Atl and Det). Got smoked by Dallas in another cozy stadium (Dallas).
They beat a terrible Carolina team on the road. This team is living on reputation, maybe they put forth a performance like they did vs Green Bay. That was really their only good performance all year as far as wins. If you want to believe they will, then I guess you can call -3 value.
The common opponents they have played Baltimore has performed considerably better than NO has.
Baltimore has the better defense, giving up 18 per game. They run it well and are amongst the best in the league at stopping it. Making NO one dimensional will enable them to rush the passer and force turnovers. NO is -9 on the year in TO differential.
For me, its Baltimore +3 or nothing. Lots of people have burned money this year chasing NO. I played against them several times this year with winning results, and I'll do it again this week.