It seems like since the Manning era there are two things you can count on with the Colts....a bad defense and a bad offensive line.
Obviously there are a few exceptions in the super bowl run the defense got hot at the end and for parts of Mannings career the line was decent (Glen, Saturday, Diem, etc...)
However it always seems like these two things hold true. In regards to Luck when he is ready, let him play. Tanking doesn't work...look at the Browns. Ballard is heading us in the right direction, just give him a couple of years.