Freeney is NOT a Good option for DEN. Period. He has played hurt the last 2 years, barely practiced, and does not give a crap about anything but looking Good himself. He has never played within the team concept and often freelances in his pass rush leaving huge gaps and holes in the running game. It's not that he does not play the run well, he refuses to play the run at all.
Despite that, he has lost his true weapons as a pass rusher as well. He also commits more than a few offsides penalties, because he no longer has that explosive first step. It was that step that set him up to use the power move and spin move inside so effectively. Without it, he is just a former elite Pass rusher who no longer provides the worth in that department to justify his lack of scheme responsibility.
Abraham is very similar, but he at least has a little value of keeping some gap integrity in the way he plays. Freeney is freelancer, who no longer justifies the risk. The Colts will be stronger schematically without him, and DEN would not be better with him IMHO.
I would be shocked if DEN signed Freeney based on that, the only reason would be to have a Situational pass rusher hopefully. And even there, well, he no longer excels and is worn down physically.