To me QBs are broken down into about 5 categories:
HoFers: Manning, Brees, Rodgers, Brady
Vets that won a Super Bowl: Flacco, Eli, Big Ben
Vets that have not won a Super Bowl: Romo, Rivers, Ryan, Stafford, Newton, Smith, Palmer, Cutler
Young Guns: Wilson, Foles, Luck, Kaepernick, Dalton, Cousins
All others: Fitzpatrick, Bradford, Tannehill, etc
To me, the 4 HoFers are the only ones better than Cutler on any given Sunday. The Super Bowl vets are as inconsistent as Cutler, the only difference is they won on some great teams. Big Ben is probably the best out of that group. The vets not to win an SB are filled with a lot of underachievers and a bunch of bad records. If a QB gets credit for a SB by a great team, he has to take the blame for a crappy team too. So Newton, Palmer, Stafford, Ryan have all been on some bad teams, so they were bad too. Cutler's worst record was his first season in Chicago at 7-9. He fits in here nicely, probably right after Rivers and Romo, and before Ryan, Newton, and Stafford. Then you have the Young Guns, Wilson won a Super Bowl with arguably the best defense and home field advantage ever. He has looked like crap this year, and if not for a 100 yard rushing day, Seattle is 2-3. Luck is the only one I would say is better than Cutler right now.
So Manning, Brees, Rodgers, Brady, Big Ben, Rivers, Romo, and Luck, then Cutler. That puts him at 8 right now. If you add Wilson, Eli, Newton, and Ryan, that puts him at 12. I would say 8-12 is his spot.