Fantasy Upside
Russell Wilson gives you the best of both worlds. He has become a pretty good passing quarterback and he already was a very good running quarterback. That really helped his fantasy value. And with the addition of Jimmy Graham, Wilson's numbers through the air should get better. Remember, the Seahawks have really not used their tight ends in the offensive scheme since Wilson has been there, but they should now, especially in the red zone. More yardage and more passing TDs are on the way.
Fantasy Downside
Even if Wilson becomes a better passer, the Seahawks still should be a run-first team. That's what has gotten them to two straight Super Bowls. As he matures, Wilson will also probably run a little less to protect himself, so those numbers could regress this season.
Bottom Line
The combination of the run and pass numbers will still be very strong which helps rank Wilson as the #3 QB overall in 4for4 rankings. With the addition of Graham and Wilson still improving as a passing QB, Wilson is poised for another good fantasy season. His ADP of 54 puts him at the top of the second tier of QBs (behind Aaron Rodgers and Andrew Luck) and taking him at that point in your draft is about right.