First, the Colts are known for trading down to find talent while picking up later draft picks (where they've had very good luck as well). Second, I'm of the mind that DT is our most pressing issue. Look at the prospects: B.J. Raji will be gone, and Peria Jerry likely will be as well. The next 5-6 guys, to me at least, are pretty even in terms of talent. Does anyone really see a big gap, talentwise, between Evander Hood, Sen'Derrick Marks, Ron Brace, Fili Moala, and Alex Magee? I don't, and I guarantee at least one of them will be available to us with OUR second round pick. Meaning that even if we do trade out of the first round and into the early second, we wouldn't necessarily have to go DT with the first pick. We could trade down and grab a WR like Hakeem Nicks or Darrius Heyword-Bey, or an OLB of some sort (although I'm honestly not sold on any besides Aaron Curry).
Anyways, my point is that if Peria Jerry is gone by the time the Colts are on the clock, I believe we will trade down into the early second round. That said, I haven't "drank the Kool-Aid" on Jerry either, so I would still be hoping for us to trade out of that spot, although that seems unlikely.