Buffalo is bad, and I can tell you their fans want Luck. I don't think they pass on him. Buddy Nix isn't a stupid guy. I also don't see Carolina passing on him. Detroit obviously would, but I'm sure they'd use their pick. I also don't see Cincinnati passing up on him.
Truth be told, I'd rather not trade up... I'd rather trade down, gather extra picks. If Newton is available with a second 1st rounder... (or an early second rounder) take a flier on him. No guarantees with him, sure, but if he pans out he'll be a monster. Yes, I'd rather have Andrew Luck. If he's on the board when we draft and we don't take him, we've got some issues (unless, of course, we target someone else and we trade him for a few year's worth of draft picks... I'd almost be okay with that)