I would drop Dorsey from that list and add Dave Ragone. That poor bastard got his ass kicked all over the field by the Kentucky D, and still popped up for more. He's going to have better days and showed that he can make tough throws under pressure.
I just don't see Dorsey as an NFL QB...like most other Miami QB's over the last decade. They have all been VERY forgetable.
I really like Wallace and not just because he's at ISU. He showed MORE than flashes last year and has developed some consistency in his decision making. Some compare him to Vick, which I think is a bit of an overstatement. McNabb would be more accurate. Wallace will run, but he would prefer to flush from the pocket and find an open WR first. Many feel he'll be like a Randel-El type guy who moves to a slot WR, but I think he's going to be a solid QB...maybe a back-up/slash type like Stewart was or is.
Leftwich is another guy I'll be keeping an eye on, if he can duplicate last year and maybe even improve his touch a little...he's going to be a game breaker. Not real impressed with Manning, just to big a shadow he's living under. Then again, a good showing this year would change my thinking.
As for Williams, I'd rather go for a third or fourth round WR. You can get a good one that late and not nearly as big a risk as a first round WR. Look at Burress, the guy had a good year last year but I think alot of that had more to do with design than his effort. The you have guys like Tim Dwight, Kevin Kasper, or Kevin Dyson who are later picks that come on like gangbusters when the opportunity presents itself. (Yes, I know I mentioned two Iowa guys in there. Just the names that came to mind, watch for Ed Hinkle to be the next cracker WR to turn some heads out of the Iowa program.)