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I don't claim to be an expert football analyst, but I see this whole situation as being similar to when Green Bay finally cut the strings with Brett Favre.
GB realized Favre had seen his best days, and the future was only him on his downward trend. I think Manning is in a similar situation. Indy saw this, and let him go.
The Broncos may get a decent year or two out of him, then will decide to cut the strings. Someone else will snatch him up, only to drop him after a year or so. Manning may still have some good games in him, but he's peaked. Everything is downhill from here for him.
The only benefit to signing him would be to help mold a younger QB, but who knows how much Peyton wants to play teacher, or even second fiddle at points, to another, younger QB.
I doubt Peyton Manning leads another team to a Superbowl.
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