Edge at 1.07 is right around his ADP (redraft), but your reasoning why his value won't plummet is not as black and white as you think. Statistically speaking, Indy had a top 5 oline last year. One can argue that peyton and the gang played a big part in the padded stats, but calling the unit mediocre is simply ignorant. At least give them some the credit of being a "good" or "over-achieving" oline.
In addition, you say zona runs a similar "high-powered" offense as indy, but zona A) doesn't have manning leading the offense, B) TE is an afterthought in green's offense, and C) zona is usually trailing in the latter stages of games. Those 3 things haven't changed this season, so edge is essentially a big gamble. In my opinion, my confidence in edge's talent and ability leads me to believe that his stock won't plummet, but there's so much uncertainty surrounding him that I personally wouldn't gamble a 6 or 7 pick on him.
Kevin Jones sucks? You base your ronnie and caddy analysis on their college careers, but you completely discount KJ's accomplishments at VT? KJ was stuck in a bad situation in Detroit with mooch, a proven RBBC lover, where the whole team was in disarray. I can't count the number of times KJ had it going early in games last season, only to be pulled out of the game in favor of pinner or bryson. Pinner probably won't make the squad and bryson will probably be kept for his pass catching ability, so it's KJ's show this season. Everything I've read this offseason points to Martz leaning heavily on KJ and Roy Williams. This is coming from a Miami home-boy who has lived in Virginia the past several years. I saw a lot of KJ and hated his guts at the same time.
Out of ronnie and caddy, if anyone's value is going to plummet it's going to be caddy. I think it's already been established that ronnie is a better receiver (it's not that it's something he CAN do, but it's one of his STRENGTHS), and like you said ronnie is bigger (and faster might I add). The fact that caddie has been THE guy at auburn actually shifts the argument in favor of brown who has much less miles on his tires. Furthermore, I think gruden learned his lesson when he gave caddy 30+ carries early in the season only to see a huge drop off in performance later as well as a pretty significant injury to his foot. I think pittman will play a bigger role than you care to acknowledge in tampa. In miami, Brown has the spotlight all to himself and will have every opportunity to shine (keyword OPPORTUNITY). The only way I see ronnie's value being lower or dropping lower than caddy's is if he's injured, which is a real possibility (although it goes both ways).
So basically I disagree with you on all your points