Not elite until they beat the Colts, but I sure wouldn't be betting against them.
I've said most of this before, but it holds true IMO. I absolutely love the way the Jags structure their defense. Give me two elite (yes, it's appropriate here) DTs, a very good MLB and solid players throughout the defense and you'll win many games.
Now, for their offense, it can improve, but the potential is huge. A QB whom I happen to like more than many around here do (more so as an NFL QB than FF), a young talented WR corps, and a RB who somehow remains underrated despite excelling.
The team is built for a super bowl run, but as usual, things have to break their way. There's areas to be improved, but overall, I like this team a lot.