I'm a Stokley fan (see my avatar) but I don't think he should be drafted, unless you are in a very deep league. There are too many targets there and even #4 reciever, Brad Pyatt, has been said to be sharing time in the slot.
Coming into this 2004 season, it's easy to see why Stokely flew under the radar. He never had more than 350 yards and 2 TDs per season while in Baltimore, and was out for most of last season in Indy. From a fantasy perspective, even in a prolific passing offense as Indy's, there are just too many options and outlets for Manning. He's gonna look for Marvin first, and after that, he's got Reggie Wayne, Marcus Pollard, Dallas Clark, Edgerrin James and Troy Walters to share the distribution with.
Walters is out with a broken arm so that helps the situation slightly. I'm predicting that Stokely's performance last night was no aberration; it's a trend. Look at Brandon's performance in the last 4 games of the 2003 regular season. He had 19 catches for 177 yards and 3 TDs. Now look at his performance in the 2003 playoffs - he was 4th in the NFL in receiving yards during the postseason with 223 yards via 11 catches and 3 touchdowns!
I grabbed Stokely with the 15th or 16th pick in all 4 of my leagues. Unfortunately, I only started him last night in the one league that features a WR/TE flex spot. Stokely is easily a serviceable #3 WR on your fantasy roster and as these trends continue, he could move into a #2 WR slot, imo.