I am part of the same graduating class as Tebow at the University of Florida so naturally I've been aboard the Tebow bandwagon since he was a freshmen coming off the bench to help us win a national title against Ohio $tate in '06. I can tell you this, watching every one of his games at UF he could throw the ball in college, especially the deep ball to other future NFL standouts like Percy Harvin, David Nelson or Aaron Hernandez. Look up some of his stats even against great SEC defenses. What made him a winner as well was an extremely low turnover rate, from fumbles or INTs which he has continued in the NFL.
You have to keep things in perspective. He had no off-season to work on his play, had no rapport with the 1st string offense since he was not the starter, its his second coaching staff in as many years and most importantly he is a young QB who is improving rapidly. It is very rare that a rookie QB like Newton and Dalton do so well and I think that has slanted people's analysis of Tebow. Also, the Denver receiving corps is one of the worst in the league, dropping an above average number of balls and often failing to get open. As for his statistical inaccuracy, Denver runs the ball on 1st and 2nd down so frequently that he often passes the ball on 3rd and long, which every NFL QB struggles with. Moreover, Tebow passed so well at Florida because he is at his best in a fast paced system to establish a rhythm.
Can he continue to improve and succeed? He's got two all-world qualities that allow me to believe 100% that he can and both that a guy like Scam Newton doesn't have: incredible work ethic and leadership. Look at how fast he's improved already. Not saying that Newton wont' continue to succeed, but Tebow's work ethic and leadership are light years above Newton. His speech at halftime of the '08 National Title game is a perfect example:
http://www.youtube.com/watch?v=d-qodBTlMtA
As for his evangelical religion, I don't think anyone can argue that his sincere belief in it has kept him grounded, humble, and able to shake off criticism which has been a huge benefit for him this season. I also think it's the biggest motivation behind his work ethic and leadership.
As a side note, its interesting that if you followed SEC football, as Brad can tell ya, Tebow mania is old news lol.