If I were the Colts GM First of all, I would know the real status of Peyton. If Peyton is coming back then I would keep Peyton and Orlovsky, and either take the first pick and then trade for more picks, or just outright trade the first pick before it is made. I feel if Peyton plays and Orlovsky is under his leadership then we have a good situation at QB. This is where the extra picks come into play. The Colts have always been good at getting talent that others do not always see, and making them awesome players. We need to make this our rebuilding year. I hate to see some of the veterans go, but we need to look for the future and make more Super Bowl teams.
If Peyton is not ready to play then we need to get a quality QB that is proven and still do the same as above. I also feel when Peyton is unable to play, that he would make a great addition the the Coaching staff or Management.
I have seen a season like this before, and it is how we got Peyton, and I know the Colts Nation will rise again!