But he's not a lock to be a fantasy star as he was in Indianapolis.
While Demaryius Thomas is a budding star, he's not a star just yet—same with Eric Decker.
And since Reggie Wayne stayed behind with the Colts, Manning would find himself with a lot fewer bullets than he recently did in Indy when he had Wayne, Austin Collie, Pierre Garcon, and Dallas Clark.
It's possible the Broncos could make a play for elite Pittsburgh receiver Mike Wallace. The Broncos have a low first-round pick that is easily worth giving up for a player of Wallace's caliber and would give Manning a true go-to weapon to complement Thomas and Decker.
But until that happens, Manning will have to channel his inner 2005 Tom Brady and be a stud with limited options.
He'll also need to be careful with his surgically-repaired neck.
Quite a few red flags there. But considering that your other options would be Ryan Fitzpatrick, Joe Flacco, Kevin Kolb and Josh Freeman, Manning is still a worthy alternative.
And considering a big part of Manning's elite ability is in his head, he should still be better than other free-agent quarterbacks who have to come in to a new system with new teammates, like Matt Flynn.
Expect Manning to be a low-end QB1 or high-end QB2 with the current Denver offense. If the Broncos do get Wallace, Manning rises to a mid-to-high QB1.