He'd have better numbers, I think, but I don't know how much better. While I think Chud is misusing Cam's running ability at times, it's hard to deny the impact his legs have had. Dalton just can't do the same thing.
He'd probably make some of the throws Cam has missed, and miss some of the ones he'd made. Overall Dalton would likely look better than he does in the Bengals offense, but I guarantee he wouldn't have 5 wins with this team. Maybe we'd have five if you could add him and some upgrades on defense, but then that's being unfair, because the only point we had a chance to take Dalton and passed on him was at #1.
Cam's been impressive beyond just his stats, though. I think Dalton has, too. Ultimately they are both looking great for rookies. Who knows who will end up the better pro, but right now, I think Cam is playing better personally but Dalton's team is playing better, and sometimes personal awards end up coming down to how teams are doing.
I wonder what Cinci's record would be if Palmer was still the QB. Something about Dalton has brought this team together. He may very well be the heart of the team.