After watching this interview it seems like he will play, and wants to play. He says his doctor has been on point and rehab has been great.

Peyton Manning 2012-13 season propositions
must play in at least one play in week 1 of the 2012-13 regular season for any team
Sun 2/5 20001 Peyton Manning plays week 1 +175
11:59PM 20002 Peyton Manning won't play week 1 -245


Does +175 have value? Or is Peyton bullshitting