I have often played the game in the manner that you describe.
I haven't done any analytical analysis to provide definitive answers to your questions. I do remember about a year or two ago a thread that contained a lot of analytical analysis into what different ratings meant and how that affected games being simmed. If I can find it I'll post it here. But all that I can remember off of the top of my head was that in past versions of the game the awareness rating seemed to be important over all other attributes for QB performance in simming, at least in the tests that were run by this individual.
I found the thread:
QB Sim Stats: Only AWR Matters
http://www.operationsports.com/forum...r-matters.html
I am not sure if this still holds true for NCAA 12.