The consensus? Not much.
It's a question worth asking, because ESPN's Pat Yasinskas is offering it up. It's obvious that Julio Jones is expected to be the same caliber of blocker Michael Jenkins is reputed to be, while being a much better receiver. If the Falcons could get something for Jenks and his $3.5 million salary, and they're reasonably confident in Kerry Meier's ability to step up as a fourth receiver, it makes sense to put him on the block.
Except it really doesn't. Unless Thomas Dimitroff can cast his Russian magic spell on some unsuspecting general manager, the best the Falcons are likely to get for him is a fifth or sixth round pick. This is a decent free agent market, and teams aren't going to want to surrender picks for a guy who basically embodies the concept of an average wide receiver. There's also the not insignificant fact that the coaching staff likes what he brings to the team and probably aren't eager to dump him, what with the blocking, the pass catching and the work ethic.
The upshot? I don't think Jenkins is on the block unless someone makes the Falcons an awfully tempting offer. I assume that will either reassure or crush you. Take your pick.