Two fold question: if a player who comes out of college after the NFL draft signs with and plays with a UFL team...is he still eligible for the NFL draft next April, or does he become now a professional and not eligible for that draft...and ergo does he become a free agent for the 2012 NFL season making him eligible to sign with any team and not have his rights limited to whomever would draft him?

In my opinion, if they don't put a player in the NFL draft (supplemental draft) he is far better going to the UFL rather than sitting out a whole season and going into the next draft because:

A. He get to play pro football. He gets to get paid and he gets to develop his skills

B. Like I said, he may then be a FA, free to sign with any NFL team, not just one.