Looks like he's pleading guilty but no word on what deal he's cut. He may still go to jail.
Vick accepts plea deal
I'd guess that his NFL career is over for at least the next few years. I doubt the Canadians will take him with a felony conviction, assuming he stays out of jail, so the CFL is out. NFLEurope got shut down after the last season, so that leaves the Arena Football League. I'm not sure how well he'd do there since there seems to be a higher premium on accuracy than speed at the QB position. If he does land there, I can see a return to the NFL if he becomes the anti-dog fighting champion, gives money, makes public appeals, etc.
Then again, I've never given ol' Ron Mexico much credit in the smarts department, although he seems to have some smart folks working for him. Maybe they'll try to weather the storm with him.
Only time will tell.