All sorts of draft day rumors are swirling around NYC today (and yes, I admit, I LOVE THIS STUFF THIS TIME OF YEAR! LOVE IT!) The big rumors involving the Colts also involve defensive end Dwight Freeney, who is pegged to play outside linebacker in head coach Chuck Pagano's new 3-4 defense in Indianapolis.

Freeney's never played linebacker at the NFL level. Ever.

Peter King of SI is the one stirring the pot on the Freeney trade rumors. He also thinks the team might be looking to trade down from the No. 34 pick.

From King's article:

The Colts and the 3-4. Consider GM Ryan Grigson's first draft a success, obviously, because of drafting Andrew Luck. But for weeks the Colts have mentally moved on to other priorities. Their roster is terribly suited to play coach Chuck Pagano's 3-4 defense. In an ideal world, they'd be able to trade back from No. 34 (their second-round pick) to get two picks in the top 80, because they need quantity to play the 3-4. They need a nose tackle, a versatile inside linebacker who can stop the run, and a big defensive end. That's not too much to ask, is it?

Colts G.M. Ryan Grigson has already said he's not afraid to pull the trigger on any draft deals. If the Colts can get decent picks for Freeney, or if they can trade down and acquire more talent, that could go a long way to building up this new defensive scheme.

Also, King posted an interesting note that runs counter to what Mike Mayock told us yesterday regarding Janoris Jenkins:

I spoke with one team Wednesday interested in taking Jenkins, the troubled cornerback, in the top half of the second round. "But I don't think he gets out of the first round,'' the club official said. Could Jenkins slip into the bottom of the first round? I don't see it, but so many teams in the lower third of the first round -- Pittsburgh, Detroit, Denver, Houston -- have a cornerback need.