Let me start this post by saying I have all along believed Carson Palmer would play in 2017, regardless of what Larry Fitzgerald ultimately chose. (Wednesday, Palmer cleared up the idea his house in Arizona was for sale -- it isn't.) I will admit I am a little surprised that Palmer's situation remains up in the air as it apparently is, but I still think he will play. But ... if he doesn't:
It would kind of feel a little bit like the offseason of 2013, right when Steve Keim and Bruce Arians were hired into their current spots. The Cards were going to move on from Kevin Kolb and John Skelton. They signed Drew Stanton, who was ostensibly going to be the starter (and then the Cards would draft a QB), until Palmer came along in the big trade with the Raiders.
If Palmer were to retire now, Stanton again would ostensibly be the starter. The Cardinals likely would go into the draft looking to pick a QB. But there would be a good chance Keim would look into the trade/free-agent market hard. (Mike Glennon, maybe?) In some ways, perhaps the situation would parallel even more that 2010 season right after Kurt Warner retired. You'd have the remaining veteran -- Stanton playing the role of Matt Leinart -- and the possibility of adding another veteran (in 2010, it was Derek Anderson). Zac Dysert is still around, but there'd likely be a rookie. In 2010, that was Skelton and Max Hall, both of whom ended up with roster spots ahead of Leinart (who by then had worn out his welcome with then-coach Ken Whisenhunt.)
Again, I think Palmer will play and the Cardinals will remain stable for another season. But as Bruce Arians said, the team is prepared for either contingency.
-- Quick note for all those wondering where Stump Mitchell was going. He has reunited with Todd Bowles after taking the Jets' vacant running backs coach job Tuesday.