Looking at Indy: Fleener seems pretty underrated right now - TE20 in the FBG staff rankings, and late teens in various other rankings. (Allen is underrated too in a lot of places, though not by the FBG staff who have him at TE12).
Having Luck as your QB is great, but the concern with Allen & Fleener has always been that they'd cancel each other out. Fleener did manage to finish as TE7ish last year, even with Allen playing 12 games, but that is still a pretty reasonable concern (especially for this year, with the upgrades to their WR corps).
But Fleener and Allen are both going into the last year of their contracts, and I'd bet that the most likely outcome a year from now is that one of them re-signs in Indy and the other goes elsewhere. Allen as the only good TE on an Andrew Luck offense? Yes, please. Fleener as the only good TE on an Andrew Luck offense? Same. A solid TE who is a major red zone threat in an elite passing offense, with a good shot at Julius Thomas / Dallas Clark production.
For folks that have Fleener ranked in the late teens or worse, I have 4 questions:
1. Where would you rank him if you knew for sure that he would re-sign with the Colts next year and Allen would leave?
2. Where would you rank him if you knew for sure that he would leave Indy after this season?
3. Where would you rank him if you knew for sure that he & Allen would both re-sign with the Colts next year?
4. How likely do you consider each of these 3 scenarios?
(My answers: TE8, TE19, TE19, 30-50-20.)