I'm not going to rate the depth in QB as very few teams have a 2nd string who can take their team deep into the playoffs and it's unlikely to be proven anyway. (God I hope I didn't just jinx the Giants!) I'm going to look a little at Eli's past and predict how his 2012 campaign will be.
The New York Giants 2004 year started with Eli sitting next to the lonesome kicker on the bench until the last 7 games of season after the team had failed to show enough promise and Eli replaced journeyman Kurt Warner. The 7 final games were a great learning curve but 48% completion percentage and more interceptions than touchdowns fail to build a great hype in #10. 2005 saw Eli start a streak of 6 whole seasons without missing a game. This durability would help stabilise the Giants offence and help them on their quest to winning Super Bowl 42 in 2007 where Eli won the coveted Superbowl Most Valuable Player award.
Eli's stats have steadily improved each season with him being 1 of 6 current quarterbacks to throw for 20+ touchdowns for 6 straight seasons. He has reached the 4000+ yardage mark in the last two years and his rating has been over 80 for 3 consecutive years including 93.1 in 2009. Eli had the highest number of completions last year (339) and his rating would have been much higher had his interception number not been blown up by the 9 tipped balls that went to the opposition been caught. Eli was also without his favourite possession receiver in Steve Smith for half of the year and another injury to Hakeem Nicks. Eli is also a proven big game player having a good post-season record of 7-7, including that Super Bowl run.
Considering these stats I'm anticipating E. Manning with again throw for 4000+ yards with 32-38 touchdowns and a rating in the 90's. I also think if Eli and his main receiving targets stay healthy can could be invited to the Pro Bowl for a second time (previously 2009).
Quarterback Rating: B+
Until then hail to the Ole Miss!