Warrior General Games

is there a penalty?

Yes, but how much, not known.

it could pay massive dividends if the TE can break the CB's tackles

Or block (pancake) at the WR position on run plays.

In season 7 and 8 my tight end was the 5th wr. Saw no visual change in his speed but the ability to actually catch the ball seemed to take a big hit. Would compare it to the effect of speed loss when moved to fb and running a route out of the backfield. Something just ain't right