We’ve analyzed the rankings for running backs, wide receivers and tight ends already this preseason and recommended who you should avoid when it’s your turn to pick. Now, it’s time to take on the quarterback position.

Most standard fantasy teams will only need two quarterbacks on the roster, one starter and one backup. What separates the starters from the backups is reliability. Starting fantasy quarterbacks can be counted on to get close to 20 points every week. Backups, well, they have a chance if everything breaks right for them in a given week.

This year, more so than in years past, I find it hard to trust any of the backup-level quarterbacks. I’d recommend doubling up on quarterbacks in the middle rounds unless you land one of the elite options.

As I have already done with the other skill positions, this “pick or pass” look at the top quarterbacks will help you decide who to avoid because players are either too risky or too inflated in value this season due to hype. Sometimes rankings just don’t cut it because some projected values don’t tell the whole story.

ADP values were taken from Fantasy Football Calculator and were current as of August 24, 2009.

Pick or Pass: Top 12 Quarterbacks as Drafted in Mock Drafts

1. Drew Brees, New Orleans Saints — ADP: 2.04 — PICK
Brees had a phenomenal season last year without his top target, Marques Colston. This season he faces a more difficult schedule, but he’s still likely to air it out more than most of the other quarterbacks in the game. His quick release should keep him productive. I worry about this high price tag because I’m not a fan of taking a quarterback early this year, but drafting Brees in the middle of the second round is not a wasted pick. As long as passing touchdowns are worth six points in your league, it’s safe to draft him in the middle of the second round. He’s one of the elite picks at quarterback.

2. Tom Brady, New England Patriots — ADP: 2.04 — PICK
Tom Brady was a fantasy tragedy last season, injured in the first quarter of his first game. But in 2007, he was the cream of the crop of fantasy. His 2007 Patriots swept fantasy boards with Randy Moss and Wes Welker setting receiving records left and right. This preseason, Brady has looked off-target, but I have no doubt he’ll be in sync with his targets by the fourth week of the season. That said, he’s being drafted far to high for my tastes this year. Conference opponents like the Dolphins and Jets have improved on defense since he played them in 2007, and new coaching could make all the difference in how Brady’s season plays out. I like him as one of the elite quarterbacks at the position, but I don’t feel as comfortable about him as I do Brees and Manning. While he’s hard to pass up, I’d sit on taking Brady as a pick until late in the second round or early in the third round. If he goes down again with a knee injury this season, you don’t want to be left without a highly drafted leg to stand on.

3. Peyton Manning, Indianapolis Colts — ADP: 3.03 – PICK
Manning has always been the most trustworthy of the elite quarterbacks. Last season was a down year only because he was struggling to return from his knee surgery and limited by offensive line woes. This season looks to be a return to form. In the last preseason game, Manning connected with Reggie Wayne for a 76-yard touchdown pass. That’s the kind of play I expect to see more of this year. With Manning, you know what you are getting, and for the first time in a long time, you’ll probably be able to get him at a bargain rate. He’s a great pick anywhere in the third round.

4. Aaron Rodgers, Green Bay Packers — ADP: 3.11 – PICK
Rodgers is one of my favorite quarterback selections this year. He’s got arguably the most talented receiver corps in the NFL with Greg Jennings, Donald Driver, James Jones and Jordy Nelson. On any other team, these receivers would all be starters. Jennings has made it his mission to reach Larry Fitzgerald’s level this year, and James Jones and Jordy Nelson should easily dominate any nickel corner they encounter when all four receivers take the field. The Packers defense has looked great this preseason, but with the scheme change this just offseason, they shouldn’t perform this well when the regular season rolls around. That means Rodgers will find himself playing from behind in enough games to air the ball out. I look forward to those. Rodgers is a great pick and usually still available in the fourth round. After Rodgers, there aren’t many elite options left.

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5. Philip Rivers, San Diego Chargers — ADP: 4.07 — PASS
Philip Rivers has never been one of my favorite players, and so I take some pleasure in knocking him this offseason. Last year, he established himself as one of the premiere fantasy quarterbacks in the game, but the Chargers defense was also the worst it’s been in several years without Shawne Merriman and LaDainian Tomlinson seemed like a shell of himself. Rivers statistics were a fluke and statistically impossible to replicate. Throwing the same number of passes as in previous years, Rivers managed to produce more touchdowns than ever before in his career and more yardage on each throw than the average quarterback. With L.T. returning this season in better shape and Darren Sproles hoping to land himself another contract with his play this year, I don’t see Rivers repeating those numbers. He should return to his former status, around the lower-end of fantasy starting quarterbacks, and I don’t want to waste a fourth or fifth round pick on that kind of production. I’d suggest you pass.

6. Kurt Warner, Arizona Cardinals — ADP: 5.01 — PICK
Despite his numbers last season, Warner isn’t being drafted as highly as he should be because of concerns about his hip injury. Warner’s not going to be one of the most mobile quarterbacks in the league, but that shouldn’t surprise anyone. He still has the most talented receiver in the NFL, Larry Fitzgerald, and two more elite options, Anquan Boldin and Steve Breaston, to catch the ball. The addition of Beanie Wells doesn’t convince me that the Cardinals will stop throwing the ball. And so, even if Warner’s hip injury continues to nag him all year, I think he’ll be worth a pick. I do think drafting him at the top of the fifth round is a little pricey, but I’ve seen him available as late as the sixth or seventh rounds. That’s where I’d look to grab him. With Warner, just be sure to get a great backup — hint: someone else who appears on this list as a “pick.”

7. Tony Romo, Dallas Cowboys — ADP: 5.07 — PICK
Tony Romo may have lost his prized receiver when Terrell Owens was cut this offseason, but that won’t necessarily slow his production. Camp reports have raved about second tight end Martellus Bennett and preseason standout Sam Hurd. Miles Austin, the Cowboys’ franchise player this year, looked to have explosive form last year in limited duty. If he sees the field enough to make an impact this year, he can replace some of the plays T.O. might have made. And I haven’t even mentioned the new No. 1 receiver, Roy Williams. He’s unproven with only one elite year in Detroit under his belt, but he’s back home in Texas and primed to show his value. I doubted Williams early this offseason, but he’s grown on me. With this wide receiver corps and favorite target Jason Witten, Romo should still be able to put up starting-quality numbers, and you can often get Romo as late as the seventh round in many drafts. He’s definitely a great pick there.

8. Donovan McNabb, Philadelphia Eagles — ADP: 6.01 — PICK
McNabb has never had the benefit of the doubt — not even in Philadelphia. This year, he’s got more weapons on offense than ever before with DeSean Jackson, now a proven deep threat, and rookie Jeremy Maclin. Rookie runner LeSean McCoy should act as insurance for Brian Westbrook this season and guarantee that the Eagles offense won’t look like an entirely different animal if Westbrook gets hurt. With all these improvements, McNabb should be set for another good season. He finished the year just behind Peyton Manning last season as the seventh-highest-scoring quarterback, and he could do it again this year. Available as late as the eight round, he’s worth a pick. I’m not too worried about Michael Vick cutting into his playing time.

9. Matt Schaub, Houston Texans — ADP: 6.10 — PICK
The Texans look great every offseason, but they continue to disappoint fans on the field. In fantasy, they didn’t disappoint last season. Schaub missed five games, but when healthy, he was more likely to net you 20+ points with Andre Johnson, Kevin Walter and Owen Daniels as receiving options. Schaub’s bound to have at least one healthy season in him. Why not this year? With Sage Rosenfels now in Minnesota, Schaub may tough out an injury to stay on the field so that the team isn’t in the hands of Dan Orlovsky. I’d feel comfortable drafting Schaub as a starting quarterback, but owners would be wise to get a strong backup for him in case he does miss time.

10. Matt Ryan, Atlanta Falcons — ADP: 6.10 — PASS
Ryan is a hot pick to blow up in fantasy football this season. For my own safety, I tend to lean towards the side of caution. Tony Gonzalez adds a great receiving target for Ryan, but Ryan’s still just a second-year starter. We don’t know what to expect. While looking strong as a rookie, Ryan isn’t guaranteed to jump to Peyton Manning’s level with just one year under his belt. Michael Turner is still going to get a great deal of carries, and Ryan will make the smart plays. Ryan may have a few games where he is a worthy fantasy starter, but if you want to take this gamble, make sure you draft him as your backup quarterback, not your starter. At this ADP, I would have to pass on Ryan this season.

11. Carson Palmer, Cincinnati Bengals — ADP: 7.12 — PASS
Palmer hasn’t played a game since October, and after just one preseason showing against the Saints, he’s now sitting out again. Palmer has talented receivers in Chad Ochocinco, Laveranues Coles and contract-year sleeper Chris Henry, who is building hype this preseason, but Palmer hasn’t shown the ability to stay on the field. I’m still not convinced he’s the same guy as he was before his knee surgery in 2006. I worry that he’ll take a hit and miss more time this season, and that makes him an unreliable starter on which to hang your season. His draft stock is too high for my tastes, so I’d pass on Palmer as anything more than a late-round backup quarterback.

12. Jay Cutler, Chicago Bears — ADP: 7.12 — PICK
Jay Cutler put on a show last year as the Broncos’ defense put the game in his hands almost every week. With Brandon Marshall and Eddie Royal on either side of the field and Tony Scheffler at tight end in Denver, Cutler was one of the elite. Now in Chicago, Cutler has been downgraded to a high-end backup quarterback, but I think he still has the potential to rise beyond this draft stock. Devin Hester is an explosive breakaway wideout, and second-year receiver Earl Bennett was a former teammate of Cutler’s in college at Vanderbilt. Young tight end Greg Olsen, who has the best hands of all the Bears’ receiving targets, is fast becoming Cutler’s go-to guy. I wouldn’t be afraid to draft Cutler as a starter, but I’d feel even better about acquiring him as an elite backup. If he rises to the top of the fantasy charts, you’ll be able to trade off one of your quarterbacks for value. If not, at least you have one of the best backups available. Cutler’s a great value pick this season.

The Rest of the Pack

That concludes my look at the top quarterback options in the league. After this top-12 group, there are a select few candidates like David Garrard, Chad Pennington, Matt Hasselbeck and Ben Roethlisberger who promise reliability but little else from week to week. I’d feel more comfortable drafting them as a backup than a starter, and obviously, you’d rather have one of these top options as a backup if you can get them.

Then, of course, there are a few gambles like Brett Favre, Matt Cassel and Trent Edwards. Favre’s not a guy to trust as a starter as he broke down last season for the Jets, but he does have more promise than Garrard or Pennington to put up starter-worthy scores when you need him.

I have my doubts about Cassel, dumped in Kansas City without the receivers and offensive line that aided him last season, and Edwards, running a no-huddle offense in the cold northern tundra. If Cassel stays healthy, he could make something out of targets like Dwayne Bowe and Bobby Engram, but I’d feel safer staying away from that little Todd Haley experiment. Edwards could start hot with Terrell Owens and Lee Evans only to fade late in the season as Buffalo gets colder — the weather and the fantasy value. I wouldn’t advise you to target any of the three as your backup quarterback, but in a pinch, I’d choose Edwards, then Favre and Cassel only if options were extremely limited.

Good luck drafting and make sure to get the best value possible with each of your picks. As always, the comments are yours.