Try going into your settings and turning OFF Camera Shake.
The difference for me has been unbelievable. I was about to trade the game in on Madden (literally had it in my car and was going after work) when I read about this fix on the forums and decided to try give it one more shot.
This has completely resolved all pass drop issues (human AND computer) and I have given up multiple 300+ yard and 60%+ completion games to the computer (Western Michigan torched me for over 400 yards and I ended up having to double team their top wideout the entire 2nd half because he NEVER missed a catch... ended up squeaking a win out in overtime).
This fix out to be posted as a seperate story on this site, it makes that big a difference.