Forget quarterback. This guy is as good a conversion prospect for the TE/H-Back position as I've seen.
Conversion prospects can only be valued so high, because there's always an element of risk in trying to get a guy to play something he's never played before. But they do happen, basketball conversions to that position happen (Evan Moore of the Browns, Antonio Gates of the Chargers) and so do QB conversions (Zach Miller of the Jaguars, James Casey of the Texans). As far as those conversion prospects go, Tebow's about as good a conversion prospect as I've seen.
He moves really well. He ran a 6.66 second cone drill at the Combine, with a 4.69 in the 40 and a 38.5" vertical. If you look through the list of fastest cone drill times ever at the Combine, you're not finding a whole lot of guys that were 6'3" and 236 lbs running in that range. A 6.60 would have been good enough for Top 25 ever run at the Combine, and if you look through that list of Top 25 times, they're mostly smaller WRs, DBs, etc. You just watch him at Florida and he moves and is elusive like a RB, even though he's a pretty big guy. The vertical also stands out, 38.5" at that size is excellent. Only one Tight End in 2011 topped that mark, Virgil Green. That was the same vertical as Jimmy Graham in 2010, and the only Tight End that topped that mark in that year was Dorin Dickerson at 6'2" and 226 lbs. People get a little too greedy when it comes to vertical speed, straight line speed measured with the 40 yard dash. A 4.69 is more than fast enough. Being a seam threat is more about the scheme, leverage and technique. Tebow has enough speed to be a seam threat, and his run after catch would immediately be among the most impressive out there at the position.
As for blocking, that's usually the dilemma. These guys are often not very physical. That to me is where Tebow stands apart. He's always been a player that is too physical for his own good. He seeks out contact. I think his physicality will make him a good blocker.
When it gets right down to it, the guy is a performer: a coordinated, talented guy who can focus in pressure moments and slow the game down, execute. You can't do what he did at quarterback at Florida otherwise. When it comes to route running, reading leverage and reacting on the fly, adjusting to the ball, things of that nature...I think he'll be a natural because of his ability to perform. The knowledge of the game he gained at the quarterback position will help him understand the game at the tight end position. He should be a natural when it comes to understanding his role in an offense and how he needs to change the way he runs his routes based on the coverage he's reading.
And then of course when you get into the red zone and goal line situations, this was and still is a specialty of his. He had 11 touchdowns for Denver last year. That's not a coincidence, nor is it coincidental he scored all those touchdowns in the single-wing attack that Urban Meyer developed at Florida for him whenever they'd get near the end zone. He and Reggie Bush at the mesh point would look an awful lot like he and Percy Harvin did at Florida.
I don't have high hopes for this season at all, to be honest with you. Vegas has an over/under on wins at 7.5. Let's say I'm currently more inclined toward the 7 than the 8 on that line. Red zone and goal line efficiency can be very important to a team. If they were to acquire Tim Tebow and incorporate him properly into the red zone and goal line offense, then my inclination from the 7 on the 7.5 over/under, might flip to the 8...and that's a big change for ONE player to make, especially one you could evidently acquire for a 4th or 5th round draft pick, or some combination of Phil Merling and a draft pick.