According to ESPN.com:
"There are no plans to trade him or cut him," Kim Shreckengost, executive vice president of operations for Arthur M. Blank Group, told the Atlanta Journal-Constitution. "Michael is our quarterback and the leader of our team. We have a new head coach who is anxious to start working with him. Everyone has high expectations of him going into next season. Michael has those too."
While the team is committed to Vick as starter, there are financial reasons for keeping him as well. The Journal-Constitution reported that if the Falcons were to trade or cut Vick, they would take a hit of roughly $23 million against the $109 salary cap in 2007, probably forcing additional roster cuts and limiting the team's efforts to sign free agents and draft picks.
Also, if the Falcons did go back on this and do the trade, I don't think they would draft Calvin when they are getting Randy Moss. They already have used two first round draft picks on receivers, and traded for Ashleigh Lelie last season. For next season, that would mean not only that a gamebreaker wide receiver Moss would be coming in, but they would also be getting Finneran back.