For the first time in, like, a gazillion years, I don't think the Colts need to draft a safety. Yesterday, the team re-signed safety Matt Giordano to a contract with terms not yet disclosed. Giordano made a significant leap from 2006 to 2007. He started 5 games in 2007 (including one or Bob Sanders) and the defense didn't miss a beat. In the opener against the Saints, he returned a Drew Brees INT 83 yards for a TD.
Giordano is also one of the few Colts who can actually play special teams well. Him, Darrell Reid, and another safety named Melvin Bullitt make up the corps of the special teams coverage unit. No, that's not ideal, but Giordano is one of the good coverage guys, and it's a good thing he was re-signed.
Giordano provides quality depth at safety (he can play both positions), and we all know his speed gives Indy an extra dimension on defense and special teams. With Giordano, Bob, Bethea, Bullitt, Brandon Condren, and Marlin Jackson (as an emergency safety) I see absolutely no reason for Indy to draft a safety later this month.
If they do, it's because they're bored.
Safety is one of the deeper areas o the football team, and adding more guys means that other areas (DE, RB, WR, TE) are not getting the attention they require.