UPDATE - 7/22/2012: Many fantasy owners have been asking about Peterson's knee recovery and they've also been inquiring about his encounter with the law, and whether or not it is expected to affect him this fantasy season.
As far as his recovery goes, it is still going. But what you have to consider is the fact that his ACL injury came late in the season, and his surgery wasn't the normal run-of-the-mill variety kind, rather it was pretty major.
News out of Minnesota is still very much suggesting that Peterson will be limited for the first few weeks if he is indeed available, with Toby Gerhart expected to get the majority of the carries.
Adrian Peterson is still projecting as a second round RB and believe me that is way too high. We aren't guaranteed he'll even be ready by Week 1 and there's no way of knowing if his reconstructed knee will hold for 16 games. if you have some optimism regarding Peterson, I would wait until the fourth round or so before targeting him.
As far as his altercation with the police a few weeks ago, it appears that Peterson has done no wrong, and that the Houston Police may just issue a small fine if anything at all.
I'll keep you updated on Peterson throughout camp here, so make sure to check in.
June 25th Original Post: Yes you are reading the headline correct. Tom Pelissero of ESPN 1500 Twin Cities suggests that although Adrian Peterson is "on pace" towards meeting his Week 1 return—per coach Frazier—it's "a given" that the team will limit his workload out of the gate, making Toby Gerhart the early favorite to become the Vikings starting tailback with Peterson in a backup role.
While it is way to early to even tell, this is certainly news that every fantasy fan wants to monitor. Toby Gerhart has bulked up a bit and is figured to be the "workhorse" back if Peterson is in fact limited. A lot of the optimism that we have heard regarding Peterson, however, has come more from himself than anyone else—the staff has curbed their enthusiasm and otherwise seem to be cautiously in wait.
We'd love to just come out and say "don't worry about it..." but we can't. The fact is, Peterson's road is still rather long, and the Vikings are in no way going to rush him back.
For owners wondering about Gerhart; his current 105.8 ADP could see a spike this summer if he does wind up taking more first team work than Peterson. Either back would be great to own at this point, but neither should be factored as a RB1 as of now.
Toby Gerhart rushed for 531 yards on 109 carries with a single TD (4.9 ypc) but also caught 23 balls for 190 yards and three TDs in 2011.