It would seem Favre is at least considering the Jets as a possible destination. There’s no way the Packers, Jets and Bus Cook would be in “serious talks” unless Favre had not at least told Cook he would be willing to explore the option. It has been reported that the Jets had spoken to Cook earlier this week, but I have yet to see anything anywhere that says either Jets GM Mike Tannenbaum or Head Coach Eric Mangini have spoken with Favre.
One thing to note - I have no doubt whatsoever that the Packers have leaked both this and the report they were considering trading Favre to a NFC North team on purpose so as to drive up Favre’s value…

