In ESPN analyst and former NFL quarterback Ron Jaworski's mind, the answer to the first question is yes, and the answer to the second has yet to be determined.
This morning, Jaworski slotted Flacco No. 9 in his quarterback countdown for ESPN, which ranks the top 30 quarterbacks in the league.
He puts Flacco right ahead of Dallas' Tony Romo, Atlanta's Matt Ryan and Philadelphia's Michael Vick, but not quite in the same class as the Mannings and Tom Brady.
Jaws described Flacco as a winner, considering his 44-20 regular season record and 5-3 playoff mark through four pro seasons.
Jaworski said arm strength is Flacco's No. 1 attribute and called his right arm the strongest in the NFL. Jaws praised the Ravens' 27-year-old gunslinger for his aggressive and confident throwing mentality, along with his ability to attack all areas of the field at any point in the game.
So given the "strongest arm in the NFL" superlative, why didn't Jaworski have Flacco higher?
In the words of Jaworski, who ranked among the league's top 10 in passing yards five times and passing touchdowns six times, Flacco's production doesn't always match his skill set.
So with greater consistency will come greater regard and a higher ranking.
But is Flacco really one of the NFL's 10 best? He has yet to finish in the league's top 10 in passing yards and has only once ranked among the top 10 in passing touchdowns.
For his career, he's 24th among active quarterbacks in passing yards and 21st in passing touchdowns. Not too shabby.
Flacco has the skill, but credit for his remarkable winning percentage can go in part to an outstanding Ravens defense during his four years in the league.
Despite that, in the mind of Jaworski - someone who'd know - Flacco's on his way to becoming one of the NFL's best.