I think that if you look at how Flacco was acquired, its pretty obvious that we will draft a Qb in the first few rounds. There is a good reason why we traded for Flacco instead of waiting until he was released and it's not to avoid a bidding war. The FA qb market was weak and there wasn't even much hype for the #1 guy, Foles, to get interest from multiple teams.
Joe Flacco was acquired via trade because his contract has 0 guaranteed money and no cap hit if he is released. This makes him the perfect mentor type for a young guy to come in and learn without pressure and then be handed the job with no real downside.

Of course Elway is going to say positive things about him, that's part of the business. Elway might even truly believe that Flacco has a few more good years left, but I doubt he thinks they all take place in Denver