Vick Ballard has been a solid complement to fellow rookie Andrew Luck. (US Presswire)

After bidding farewell to their franchise cornerstone, the Indianapolis Colts used the 2012 NFL draft to replenish an offense that struggled to do much of anything last season without Peyton Manning. They started at the top, selecting Stanford quarterback Andrew Luck with the No. 1 overall pick. Luck is supposed to be a sort of Manning 2.0, and he hasn't disappointed early in the preseason. Still, in order for the Colts to experience any long term success, the rest of their haul will have to contribute, as well.

Here's how Luck and the rest of the Colts draft picks have performed to this point.

Top pick: QB Andrew Luck (first round, No. 1 overall) -- His preseason progress has been dissected from every angle, both on the field and off. He's been pretty much exactly what the Colts brain trust thought they were getting when they let Manning go. He has erred once or twice on the field, so I feel justified in not giving him a perfect score. Grade: A

No. 2 pick: TE Coby Fleener (second round, No. 34 overall) -- Fleener, Luck's security blanket at Stanford, looks to fit the bill as the second coming of Dallas Clark. He has shown flashes of his ability catching the ball downfield, but he hasn't racked up too many big yardage plays. Still, his play has been solid, and he will certainly be a major cog in this offense for many years to come. Grade: B

No. 3 pick: TE Dwayne Allen (third round, No. 64 overall) -- Allen, a tight end out of Clemson, has the body of a blocker, but don't be fooled. Allen is a legitimate pass-catcher and he has shown the ability to make defenders miss. But, like Fleener, he's been just okay early in the preseason. He will likely be a solid target in short yardage situations, and he's shown that he can get extra yards on quick-hitting pass plays. Grade: B

No. 4 pick: WR T.Y. Hilton (fourth round, No. 92 overall) -- It certainly says something about Indianapolis' intentions for Luck when they draft three pass-catchers after him, including the speedy Hilton. The Florida International product has been up and down, showing flashes of brilliance peppered with confounding drops. Hilton, nevertheless, will be a weapon in the offense right away. Grade: B-

No. 5 pick: NT Josh Chapman (fifth round, No. 136 overall) -- Chapman hasn't played at all in the preseason, so it's near impossible to judge his performance. He had knee issues throughout his career at Alabama, and those have continued into his professional career. Grade: INC

No. 6 pick: RB Vick Ballard (fifth round, No. 170 overall) -- Ballard may end up being a steal. He's looked solid backing up starting running back Donald Brown, and his running style fits perfectly in offensive coordinator Bruce Arians' ground-and-pound scheme. Ballard is equally effective between the tackles and on the perimeter, and, if not for Brown's impressive preseason, we may be talking about Ballard working his way into the starting lineup. Grade: A-

No. 7 pick: WR LaVon Brazill (sixth round, No. 206 overall) -- Like Ballard, Brazill has been impressive in the first half of the preseason. Initially tabbed as a return specialist, Brazill has been impressive catching the football. He's shown great hands and speed, and given the uncertainty surrounding starting wide receiver Austin Collie (concussion), Brazill may be in line for some added work with the first team offense. Grade: B+

No. 8 pick: OT Justin Anderson (seventh round, No. 208 overall) -- Anderson will likely be battling to make the squad throughout the preseason, but he's done nothing to hurt his chances. Still, it's no guarantee that he earns a roster spot, especially with rumors swirling that the Colts are looking to trade for an o-lineman. Grade: B-

No. 9 pick: LB Tim Fugger (seventh round, No. 214 overall) -- Fugger, too, is battling for a roster spot with a host of linebackers. Drafted as a defensive end, Fugger is transitioning to outside linebacker so as to fit in the Colts 3-4 scheme. Fugger missed the open of preseason camp, so he is fighting an uphill battle to make the roster. Grade: B-

No. 10 pick: QB Chandler Harnish (seventh round, No. 253 overall) -- Harnish, the last pick of the draft, has been anything but irrelevant. A local product, Harnish has been decent in two preseason games, probably locking up the third quarterback spot behind Luck and Drew Stanton. Grade: B+

For more up-to-the-minute news and analysis from Colts blogger Evan Hilbert, follow @CBSSportsNFLIND.