this is the way i look at it:
we had our chance to draft a franchise qb halfway through the year, but by telepathically willing the dolphins to a substantial amount of wins in the 2nd half of the season, we no longer realistically have that option. the price to trade up for RG3 is very very steep, although I would possibly consider it, despite his rather diminutive size (by NFL QB standards, not by our recently drafted QB standard set by Beck and White). nonetheless, i always despise the idea of trading future high picks, and therefore am inclined to say F*ck it and roll the dice with Manning. the dude is a workout beast and the anecdotal stories by fellow posters of how they had a similar surgery and now their arm gets tired when the'yre drinking beer cant convince me that he wont make an almost full recovery. either way, we will be able to get a good prediction of his status when we work him out. Peyton showed absolutely no signs of slowing down up until last year, he has less wear and tear than Dan did at this point in his career. the reward/risk ratio is astronomical; if hes back to anything above 80%, we are in the playoffs no doubt. if its a flop, a) we are used to it, we'll deal, and b) we will be in position to draft a good QB in 2013.
my caveat is that I do wish Flynn had a live arm, then I wouldnt be really considering this. all the pieces fit, except his arm doesnt impress me. do you all remember how many 3rd and longs Dan converted for us throwing those deep 15, even 20yd curl/comeback routes at the sidelines? i grew up on that, and miss it. Flynn isnt throwing those. that is one of the most effective passing plays available, but only a qb with a great arm, as well as respect of the defense can throw it. very afraid that Flynn will usher in a new 3-4 year era of mediocrity. maybe i need to see more video on him, but its obviously sparse. on the other hand, i do clearly remember him throwing a pass during this past preseason for a long touchdown that made me think he was already better than any of our qbs.