Seeing as we're the first 0-5 team in the NFL, and based off a tweet from Peter King, I wanted to pose a hypothetical situation.
The Colts go between 0-16 and 3-13 this year and land the first overall pick, which is widely assumed to be Andrew Luck.
PK indicated Luck could be worth 3 #1 picks. That would give the Colts a high #1 in 2012, 2 #1s in 2013, and 2 #1s in 2014, or some combination thereof. Long story short, the Colts would have five #1 picks in three years.
Realistically, without knowing Peyton's status, there's no way to determine how much longer he'll play, or if he even will play. If he doesn't come back or isn't even close to the player he was, Luck is the obvious and correct choice. However, assuming he comes back near 100% next year, he can still play for 3-5 years and would have a fairly loaded team around him as well, bolstered by high picks this year, and a pair of #1s next year.
2014 is where things start to get interesting. By that point, Peyton will be on the last few years of his career, and it will actually be time to start looking for his successor.
So, with that mind, let's say the Colts do a little wheeling and dealing in 2014 and end up with a good picks package in 2015/2016.
Colts fans, I present the true successor to Peyton Manning...
Please note the area highlighted in speed blue.
Please also note who Trent Dilfer compares Gunner to here: http://espn.go.com/college-sports/recruiting/football/story/_/id/6846653/more-gunner-kiel-meets-eye
"Starting at quarterback for your 2017 Indianapolis Colts, #11 out of Indiana University, Gunner Kiel!"