Number 12 seems fair, though I have some questions about some of the guys ranked above him.
I would have put RG3 in the "Trick or Treat" category because I don't know that he's going to last a full season without taking a major injury (or two)
I can kinda see rating Luck and Wilson higher, but I'm always hesitant to rank rookies too high without seeing whether they'll maintain early success (some would argue Newton didn't). Still not enough info there. You could conceivably say that about Kaepernick too, though he looked pretty good end of last season.
Matt Ryan and Ben Roethlisberger both belong in the "all overrated" team, though Tony Romo is the champion of that front. I'm also in the camp that says Joe Flacco is overrated, but given his playoff performance you'd probably have to rank him ahead of Newton (for now).
Philip Rivers? Fair to rank him lower based on recent performance. I'm curious to see if he'll bounce back. If he returned to form I'd rate him higher.
Sanchez is dead last at number 35, which means some of the guys ahead of him aren't even full time starters (ouch),