For Edwards to be at 457 scrimmage yards (split roughly evenly between rushing and receiving) and 2 touchdowns through 9 games is probably about as disappointing a season, relative to expectations, as I can remember from a Michigan player. I don't know what happened since the end of last season. Maybe he started believing his own hype a bit? Maybe the lack of a full offseason set him back more than we thought?
Whatever the reason for his severe regression... where Corum/Mullings/Hall have posted a combined 5.3 yards per carry, Edwards is the one who can't seem to get going at 3.1.
For as much as Michigan fans love to hold up Mike Hart as the counter to any suggestion that rankings or measurables have predictive value... running back is probably the position where this is most often true. So much of what makes a RB great are things that don't show up in a combine workout and aren't often recognized/rewarded by recruiting services: vision, feel, patience, the toughness to run through arm tackles and fall forward...
At the moment, Edwards doesn't seem to have any of it. After his 3 game star turn to close out last season, he now looks uncomfortable and lost out of the backfield. He looks much more at ease at the second level and beyond than he looks getting to the second level. Mullings and Hall look much more natural carrying the ball, plus you have two very promising RB's incoming next season and Cabana still in the frame.
Also, Edwards remains a liability in pass pro.
Edwards is 6'1"/210, which is caught in the netherworld between RB and WR in terms of build.
With Wilson and Johnson exiting after this season and Darrius Clemons not emerging yet as many hoped, it really looks to me like receiver should be where Edwards' future is. Spend the offseason getting back down to around 200 and focus on the change-of-direction that will serve him as a receiver. Go all in on being a wideout (which, let's be honest, is more valued by the NFL anyway) and our primary trio next season can be Morris, Edwards and Morgan.