I can't say that the system and garbage competition he faces doesn't make me nervous at all, but I won't kill him over it either. Honestly, these wide open passing spread offenses mask the deficiencies of wide receivers more than they do for quarterbacks. Regardless of any of that, he does look like the best quarterback in the country. I do have him comfortably above Matt Barkley at the moment, but I still don't think he's someone to go nuts over (like Luck or RGIII last year).
I do think people are overrating his performance against LSU last year a bit. I thought it was ok or maybe even good, but far from great. He did throw for a lot of yards, but also threw the ball 60-70 times. His YPA wasn't that impressive considering the offense he plays in. I also recall a sub-60% completion percentage and a couple of turnovers. It was an impressive performance considering the opponent, but I've seen people act like he had a really great game.