I'd pick Bledsoe because he seems to fit the system rather well. However, if Favre were acclimated to the same type of system, I would choose Brett. I just feel he has the better overall tools than Bledsoe.
B4MVP, as stated before, noone really hates Bledsoe. We see him as a good quarterback who can do damage when given protection. As such, with the way the Dallas OL was last year and the uncertainty of this year, I'm still worried about his lack of mobility. I still cringe thinking about that play against the Giants when Drew invented his own pressure and ran(using that term loosely...) out of the pocket and into a sack.
As for the perceived hate for Bledsoe, it's basically a spillage of the hate we have for you (and dead guy) stemming from the unhealthy unmanly idolization you have for Bledsoe AND at the same time, your constant denigration of Drew Henson (which I believe to be insecurity on your part even though realistically Henson isn't going to unseat Bledsoe THAT quickly...)