We're doomed. Polian, do something..
I'd say at a minimum we're at a point where if this rebuild/GM doesn't work, we can start getting nervous that we might not win one with Luck. Could still happen even when he's older because good QBs keep teams competitive.
I think Ballard is going to be the guy to get us into a Colts renaissance, simply looking at the teams he's been with and their philosophies (Chi/Kc...solid D franchise's almost yearly).