With RG3 blowing up the combine, this is a question asked frequently. The reason to do it now is that you strike while the iron is hot. RG3 is smoking now, if he wasn't already. The reason not to do it now is that the internet will start buzzing, the talk radio shows will keep talking, and the frenzy that is associated with the NFL draft will increase his value. My opinion after the jump.
I'm in the camp that believes you let the frenzy machine run its course. His display at the combine was impressive, to say the least. He runs faster than the best running backs. While that is certainly not indicative of his potential success as a quarterback, it is certainly a factor for a team looking for a mobile QB. NFL people listen to the same things we do, they read the same things we do. They know this guy is going to be good for someone.
The argument to make a deal now is that he won't get any hotter. I disagree. His pro day will be impressive I'm sure. He will be throwing to guys he knows in a controlled environment. He threw at a 70% completion rate during live competition. He most likely will have a Bradfordesque pro day. Even were he to break his arm between now and his pro day, he still has undeniable talent that simply isn't going to go away. Teams know that. His pro day is academic at this point. The scouts have seen the film, his accuracy, and his arm. I say let the frenzy build, with big cities like Washington, Miami, and Cleveland to a lesser extent (although Lebron tore their hearts out and I'm sure they are nuts for a winner) in the bidding.