Why not acquire the 2nd pick? You will be getting the 3rd best QB in the draft.
Agreed. And if I were running the Giants, I would have been all over that pick, if what they've said publicly about Manning having "three or four more years" is accurate.
Drop down and still have a chance at a high quality player, be it a quarterback, running back, the best guard in the draft, or one of the best defensive backs available. The Giants could use help at any of those spots and the additional picks for the future.
I'd question why it wasn't they who accepted that deal.