NFL Network's Mike Garafolo says that the team doesn't sound as optimistic as they did earlier in training camp in regard to Andrew Luck's Week 1 status, but do believe they have a better grasp of his injury now. Coach Frank Reich also wants to designate a starter after the Week 3 preseason game, which shortens Luck's time to heal before the season starts.
The timeline puts Jacoby Brissett squarely in the picture to start Week 1 and should knock Andrew Luck down your draft board somewhat. If you've already drafted Luck, Brissett is someone worth grabbing as insurance, but there's also a decent chance you can find a free agent quarterback in most single quarterback leagues.