I'd settle for someone to throw the ball 20 yards + with accuracy, but I think it is essential they can move the pocket with their legs. At this point, we need consistent, better than average play from the position to have any chance at the playoffs. If that's a Schaub like player, so be it. (Though he throws too many INTs)
I think your logic is flawed here because playing Fitz will never get us to the playoffs, yet he's good for 6 wins a season which never puts us in a situation to get a top tier QB. I do, however, agree with the premise we should not reach for a QB in the first. We have other needs (LB!) as well.