The extremely open owner has the unenviable task of trying to decide whether or not the all-world quarterback has enough in the tank to warrant keeping him around for another go-round; or letting the star walk away, saving $28 million in a roster bonus and leaving a gaping hole at the most important position on the depth chart.

Making the situation that much more intriguing is the presence of college standouts Andrew Luck and Robert Griffin III. While everyone agrees Luck is more ready to start in the NFL from day one, most also agree that Griffin won't be that far behind.

Now that the medical question has been answered, it's now on Irsay to determine the direction of the franchise that was barely on the professional football radar before Manning for anything other than ditching the city of Baltimore in a cloak-and-dagger relocation operation.

It's not very often I have a moment of clarity in situations like this- where both alternatives look pretty damn attractive. I have had draw on a tremendous amount of intestinal fortitude and discipline to come up with this opinion on what Irsay should do: trade the pick.

In Manning's absence this past season, the veil has been revealed on the real state of the Colts roster. The emperor has no clothes. 2011 has cemented Manning's legacy of his importance to that team, ironically, through what has transpired without him.

The Colts were 28th in the NFL in scoring, 30th in yards per game, 27th in passing yards per game, and 26th in rushing yards per game. A far cry from 2010 when they were 4th, 4th, 1st, and 29th respectively.

And while the Colts had struggled defensively in 2010, 2011 was even harder without Manning keeping the offense on the field, getting leads, and otherwise keeping the defense fresh.

What does all this show? That should the Colts let Manning walk, they are most definitely more than a quarterback away from contending. There are multiple holes here that one pick, albeit the first overall, won't fix. The Colts could easily garner a couple of players and multiple picks for that first overall that would only make the last few years of Manning's career that much more successful.

Secondly, while Luck and RGIII are talented there is no guarantee of success. For every Peyton Manning there's a Ryan Leaf. For every Drew Bledsoe, a Rick Mirer. Other notable first round "sure thing" quarterbacks: Heath Shuler, Trent Dilfer, Akili Smith, David Klingler, and let's not forget Jeff George- taken first overall in 1990 by the Colts who traded to get him.

If Manning plays three more years, I will bet you a dime to a dollar they will be more productive than the first three years of either Luck or Griffin. Even if both pan out, for either one of them to be another Manning is hard to believe at this point. Manning is a "once-in-a-generation" player. Luck or Griffin may be, but that's a $28 million gamble Irsay should not be willing to take.

Where franchises scour the globe to find a quarterback with half Manning's ability, the Colts are sitting in the driver's seat and hold all the cards. By trading the pick for multiple players and/or picks, Irsay truly can reload. With the right personnel choices, he can do it faster and better than any other franchise in sports and keep the Colts in forefront of NFL franchises.

Sounds too good to be true, doesn't it? That's the problem- all the solutions do. However to pass on what you know to be true in exchange for the roll of the dice is not just ill-advised, it's irresponsible.

After all, Irsay's nothing but rational. Right?