Elway has always been a project, but fans got excited by the name. The coaches recruited him knowing he's several years away from being someone you'd let on the field during a real game. He had seven interceptions in his final high school game. He's got a lot of work to do, but he does have raw skills to become someone of note.
Osweiler was recruited to Gonzaga as a power forward. He was noted for being extremely tough, very physical. I think football is sort of a developing thing for him -- not expected considering his visibility as a basketball player. It's probably a wise decision for him because he doesn't have NBA freak-type athleticism. I'm guessing he's seen what happened to
Adam Morrison and reconsidered which sport might best serve his interests. I've read he's very coordinated for a person of his size and has very soft hands ... I dunno, maybe tight end material if QB doesn't pan out.