Statistically, he's a far superior passer to King (who also had a dip in production before transferring) but he's not nearly the athlete. Even before the injury.
Milton went from 67.1% with a 179.3 rating to 59.2% with a 161. rating (his "bad" season is miles ahead of any UM quarterback in recent history)
King went from 63.5% with a 167.0 rating to 52.7% with a 117.7 rating
In 33 games at UCF, he has passed for 8683 yards at 62% with 72TDs and 22 ints. I'd take a healthy Milton over any QB on the roster not named D'Eriq King.
It's all moot if King stays for another season but if he leaves, you ABSOLUTELY get McKenzie Milton in here to compete for the starting position. Worst case scenario, he flops or gets hurt and you go with Tyler Van Dyke. I would way rather open camp next season with Milton and Van Dyke competing for the job than Van Dyke and N'kosi (I'm not a starting quarterback) Perry competing for the job.