Foles was a 3rd rounder because a) he was on a bad team which made him look worse and b) he ran a slow 40, with the "trend" being toward more mobile QBs. In Reid's system, the latter doesn't matter. That's why he slipped. He has EVERYTHING else. When he played, he exceeded expectations. All that having been said, he was a 3rd round pick in what may go down as the best QB draft of all time. IN this, relatively weak draft, that alone makes him early 2nd round value. The fact that he exceeded expectations makes him probably late first round value. Some mock drafts (Mel Kiper's for what its worth) have NO QBs with first round grades, and this is a weak draft all around.
Don't be fooled by the 3rd round pick thing. This guy can play. Don't be fooled by "we can pick a guy 1st overall". There aren't any good QBs in this draft.