The short answer is no.
I watched Tebow a fair amount during his college career, and for all the criticism he got for his mechanics (which were horrendous) I was also very unimpressed with his arm. He does have a pretty nice deep ball, but he seriously lacks zip on his intermediate passes and isn't very accurate. He has a pretty decent completion percentage, but pretty much every time I watched him he wasn't asked to make many difficult throws and even when he was throwing to wide open receivers I saw them having to adjust their bodies or speed up/slow down on their routes to get the ball, when any QB with NFL caliber accuracy would have been able to hit them in stride.
Its nice that he's making an effort to quicken his release and improve his mechanics, but until he can do it in a real game situation with 280 pound monsters in his grill its still a huge question mark. Then if his mechanical issues are corrected, he needs to prove that it won't hurt his arm strength, which was iffy even with his Roger Clemens windup.
He is a great athlete and one of the most motivated and competitive individuals in big time organized American sports, but that alone won't be enough for him to cut it as a starting QB in the NFL anytime soon. You also have to consider that he had the benefit of one of the best offensive coaches/schemes in recent college football memory and a plethora of offensive talent, including Percy Harvin, likely the most dynamic college player since Reggie Bush.