No.1 - We wouldnt have the cap for Peyton Manning
No.2 - You will only get 3/4 Years out of Manning, Whereas Joe will prob be here for 10 or more season if we sign him.
No.3 - Joe has room to grow, Manning is at his peak
No.4 - If manning got hit as much as oe he would not see out the year, granted manning may avoid hits more, but he doesnt play in the afcn.. joe is more durable
No.5 - i dont think colts would trade him to a contender in the AFC, If we got manning, for the next 2 seasons, we would win the superbowl, no doubt in my mind (drop of after that due to mannings age). Why would the colts risk that.
No. 6 - If they trade manning (ie keep him after March i think) they get hit with a $20mil dollar guarenteed price tag. If you sitting with $20mil against your cap, you may aswell keep him around