Nichols is infinitely better than anything you guys have rolled out at QB over the last 5 years. Adequate would be a huge improvement for you guys right now, and it doesn't appear to be a level you are going to attain any time soon. Last place with a bullet next year. What QB in their right mind is going to go to a team that has lost all it's best players, it's COTY, and has by far the worst offensive system in the league.
You should be hoping and praying that JOD can land a QB at least as good as Nichols this year, because if I were a betting man, I would say that it doesn't appear he will. Maybe a reclamation project like Jennings, or re-signing the Faberge melon of Zach...that's about the best you can hope for until McAdoo is gone.