Here is a crazy-ass Peyton Manning scenario

Like I said, this is crazy-ass, and there is 0% chance of it happening. That said, what do you think of this scenario?
Let's operate first under the premise that the Peyton Manning is driven mostly to play where he is most comfortable, because he already has a ring, and is fabulously wealthy. That said, what about this?
What if the Saints used a cheap Drew Brees (because he is franchised) as trade bait for someone like the Redskins with high picks and a penchant for big name players, and then signed Manning for a lower price tag, brought back Colston, while grabbing, say, Justin Blackmon with the ‘Skins pick?
The Saints would then have a defense and a well established offense, even better with Marques Colston and Justin Blackmon as the downfield threats. They get only slightly weaker at QB while getting stronger elsewhere, The Redskins would end up with the elite QB they so desperately crave. And Peyton Manning would be playing at his father's team, in a division with two domes (the other being in Atlanta) so he can show off his arm, like he did in Indianapolis. 
Win-win for everyone, right? Well, except for Drew Brees. But he is used to getting hosed on stuff like this.

Thank you, Peyton Manning

I think things have been handled poorly over the past month or so with the Colts and Peyton Manning, but I am glad Manning is leaving without ill will towards the Colts. Best of luck, Peyton.

Now that I think about it...

Why not keep Peyton Manning? Rumors of his health, or even retirement have surely sabotaged his value. And then, there is that number one draft pick for a "surefire" prospect in Andrew Luck. That's a pick that, no matter what, still has value. The Colts are quite obviously more than a quarterback short. The idea of getting rid of Manning, in my book, isn't all that palatable if the Colts get nothing in return.
So, again, if the Colts can, perhaps, grab multiple first round picks, grab a player like Justin Blackmon to replace the likely to depart Dallas Clark and Reggie Wayne, and a linebacker like Dont'a Hightower, because the defense sucks, and take your chances with Manning's health next year, while drafting a quarterback in the later rounds and adding, say, Colt McCoy from the Browns with the same trade of the #1 pick.
Sure, it's a risk. Of course it's a risk, but so is letting a hall of fame quarterback walk for absolutely nothing.

DAMMIT ROB LOWE!

According to the LA Times and their sources, Peyton Manning may be done playing in the NFL. This never would have happened if it weren't for Rob Lowe.

But seriously, I hope Manning can come back and coach. And also, I hope that Rob Lowe will pick lottery numbers for me.

The Colts might have to make a tough decision

I have been in staunch opposition to drafting Andrew Luck. If nothing else, because the Colts are terrible everywhere, as they demonstrated last night. (62-7!) If anything, they should trade the first pick in the draft for more picks and fill MORE holes, like the offensive line, wide receiver, running back or any position on defense.You know, the entire team. Trading out of the first pick would likely reap a bounty that  could be used to develop a lot of players going forward. Seems like a pretty decent draft to do that with.
Of course, now Tony Dungy brings up another idea. Maybe the Colts should trade Peyton Manning. I actually like this thinking, even thought it seems completely implausible. Manning would also bring a slew of picks, as well as, perhaps, other compensation. If you can extricate yourself from the emotional impact of a move like this, it does make a certain bit of sense going forward. You have a sure fire quarterback prospect fro the next 10-15 years instead of three or four. But of course, you would also have to gradually build a team around him, a la Manning of the early 2000s, rather than inserting him into a ready made team, if you were to keep Manning and rebuild the team under his guidance.
I think either way would work. Regardless, the Colts should add a quarterback in the draft in the early rounds with an eye for the future. There are one of two ways to do it. Either keep Manning and trade their early pick for more picks, or keep their early pick and trade Manning. Whatever happens, they will end up with Manning or Luck, but certainly not both.