I really hope the Dolphins just go after Matt Flynn. Won't cost as much as Peyton, will be a longer term QB, and won't cost as much as RGIII.
Peyton is just way too unsafe a bet, and waiting until the draft for RGIII is taking a huge risk if you miss out on him.
The Dolphins will go after Flynn if Philbin tells them that Flynn is the answer.
If Philbin is not comfortable hitching his Rookie HC wagon to Flynn then I trust his judgement. It would be a lot easier to push for Flynn since he has familiarity with the offense. The more gutsy move is to say no to Flynn.