In a yardage league (i.e. 1 point/10 yards rushing) I'd rank him 2nd behind Manning. Last year in my league; CPepp scored 390, Manning 372, McNabb 306, and T. Green 288... The Moss loss will hurt, but not enough to drop him to #5/#6 in a yardage league.
Note: If Owens didn't consistently miss several games/year due to nagging injuries (usually during fantasy playoff weeks it seems), I'd move Mcnabb ahead of CPepp as well.