Orton has one year and $9MM left on his deal and Denver is looking to unload him.  Reports are that he's looking for a team that will pay him "north of $6 million a year" as part of a multi-year extension AND that he's "viewed as an asset more than a stop-gap option."*

Orton has been a solid QB since 2008 with a solid TD:INT ratio and a passer rating in the 80-90 range.  His avg yards per attempt is higher than I would have expected, so it's not like he can move the ball down the field.  His numbers have certainly been better than Palmer over the same span (fewer TDs but way fewer INTs).

Signing Orton to a 3-year deal gives us a quality starter that should perform well in Jay Gruden's offense.  It also gives Dalton the time he needs to get up to "NFL speed" and then allows him to take over in Year 4.  We have the cap room and should be able to afford a draft pick as trade compensation (3rd rounder?).  The question is if Mike Brown & Co want to go the route of winning or the cheaper Bruce Gradkowsi route...

 *all quotes from http://www.orlandosentinel.com/sports/football/dolphins/fl-miami-dolphins-kyle-orton-0728,0,6707902.story