If we have the #1 pick, and do not take Luck, I will loose it! It is not very often that a franchise QB lands in your lap. We have never had it happen before, and who knows when we will have it again. We can still find a way to get more picks. We could add another 2nd or 3rd for one of our RBs. Even if Clausen ends up being great, you can never have too many great QBs. We could trade one away for another 1st rounder in a few years. We are several years away from being a great team, and why not take a few years to let 2 young QBs battle it out. At least that should be fun to watch.
Add depth and a starter or 2 in free agency, get the franchise QB in the draft. Worry about the rest the next year!
you do bring up a good point in that we could use all of our cap room to fill holes which would allow us to take Luck.