Kelly would throw picks at the worst possible time, sometimes. Baffling ones. I'd take him again in a heartbeat. Look at the record and Mallett indeed plays well enough to win, most of the time.
Also, don't dropped passes have something to do with "sucking on 3rd down"?
I am not going to advocate drafting the guy at all costs, nor will I say he is a complete product at this point. I think he'd do well drafted later on (no way he makes it to R2 with Luck out of the equation), sitting behind a guy like Fitz for 1-2 years. But if they draft him at #3 because they decide they can address D in later picks, so be it. I'll be behind him and I think he has enough potential to be harnessed. I think the right time for a QB like him would be after many more need areas are addressed; it just doesn't always happen that way.