Michael Preston has had a tough go of it during his time in Tennessee. Despite being such a big receiver with solid hands, he was never quite good enough to get on the field. With a weak receiver group forming in Tennessee (behind the big three) Preston may have a great chance to get much more playing time this year.
For those who don't know off hand, Preston is 6'5" 213 lbs. and can pluck the ball out of the air. He has been with the Titans for two years, and each year he has seen more and more time on the game day roster. There are two real options where Preston can see more time on the field.
The Titans could use him as a short distance/red zone wide receiver only. The ideal formation with this idea is that he is one of two wide receivers (Justin Hunter) that pairs with a six man OL (with the loser of the Oher/Lewan battle at TE). This along with Delanie Walker on the other side, Jake Locker at quarterback, and a running back, would be tough to stop.
The Titans could try to move him to the vertical tight end role. He wouldn't have to block often and he would be able to create insane mismatches with linebackers and safeties. While Walker is a great tight end, he doesn't have that massive catch radius that Preston has (but he could be on the field as a fullback or inline TE). This would allow the Titans to have more pass catchers on the field, even if he wasn't technically at receiver.