Jacobs is a physical, three-down back with good speed, quickness and acceleration. His lateral agility sets him apart, and he consistently tends to fall forward to add a few extra yards on his carries. He has very good, natural hands to contribute in the passing game, which is huge for Jon Gruden's offense. And while he's not a polished pass protector, he proved on tape he's willing to try.
He's also inexperienced — he has 251 career carries and 48 career catches with only three games with 15-plus carries. Some may consider that a positive, as he also doesn't have any major injuries on his record.
I would expect Gruden to keep Jacobs' touches fairly limited early on — his track record suggests splitting carries between multiple backs until he has one he can trust on a play-to-play basis. That shouldn't take too long with Jacobs. Gruden's had a running back catch at least 40 passes in nine of his 12 seasons and has helped a rusher to over 1,000 total yards 10 times in those, with seven seven-score seasons.
I wouldn't get so excited about Jacobs that his draft stock rises into Round 2 or even Round 3 range. Round 4 will be a great time to get a lead back with big potential. I expect him to be taken with a top-50 pick, maybe top-55 in PPR.
If you're drafting with the long term in mind, Jacobs should settle in around 40th or 45th overall in dynasty start-ups and long-term keeper formats. I do think Jacobs is in the conversation as the top pick in rookie-only drafts, too.