Less than a week has passed since the San Francisco 49ers’ season ended in the NFC Championship Game.

It’s not too soon to question whether the 49ers can expect another season as successful as the one they just finished.

A couple recent analyses got me thinking.

ESPN’s Chris Sprow compares Alex Smith’s current value to one for a house perched atop a real estate bubble. The piece makes compelling points.

I would question two parts of it. One, I suspect the 49ers know what they have in Smith, and they will not overestimate his value unless Jim Harbaugh’s comments about “equity” override reason.

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