Here is my strategy for #1 this year. A little background: I drew #1 in my 12 team PPR (20 roster spots, start QB, 2 RB, 3 WR, No Flex, 1 TE, 1 K, 1 DST, no negatives in scoring, 6 pts all TDs.) 11th year Re-draft league, and I've borderline dominated this league over the years, usually by having a very strong WR trio (and have often drafted late which helped facilitate that.) However this year, I have #1, and I'm not looking to move this year due to what I perceive to be a truly elite corps of #1 RB that only goes 6 deep before you drop off into some garbage. So I'm staying #1, and here is my gameplan:
#1 overall: The decision is Foster or Peterson for me. Foster may have a higher ceiling due to the catch numbers, but Peterson is the only RB in the NFL to repeat in the top 5-10 (depending on scoring system) over the last 5 years. That is insanely valuable and comforting given the yearly 45%ish repeat rate of the top 10 RBs in Fantasy. I would say the decision between Foster & Peterson should depend on your plans for the rest of your draft, which I'll get to here in a bit.
2-3 Turn: I'll be selecting 2 of the following, assuming 2 are available: Vincent Jackson, Miles Austin, and Mike Wallace. As I stated in my background section above, it is VERY important in my league to have 1 of the, if not THE best WR trio in the league if you have any plans of dominating. Obviously I won't be able to get my hands on that top tier of WR, but I'll do my damndest to build a trio of guys that I believe could end up there, and put up monster numbers on a week to week basis. As of now I have those 3 ranked in the way I displayed them. The only wrench in this plan is in the event of Michael Turner or Steven Jackson dropping to me at the turn. I feel almost forced to take them, although it has not happened too often in Mock Drafts.
4-5 Turn: Here I hope to get one of my top 4 TEs (Gates, Clark, Finley, Witten) and hopefully one of the last of my top 7 QBs (Vick, Rodgers, Rivers, Brees, Brady, Manning, Romo) and often times end up seeing Witten & Romo in this spot, and will gladly take them and the little combo bonus. If I miss out on TE or QB, I'll take my 3rd WR (Santonio, Dez Bryant, and if they're gone, would even reach for Manningham to make sure I get him) or my RB2 (although highly unlikely, as Deangello is about the only one I like here, and he rarely slides.) I'd say TE and QB make it there about 80% of the time.
*Quick break* This leads me back to the #1 overall pick. As you can see, RB2 is not a priority for me. I feel that in a 3WR start PPR league that RB2 is the position you can afford to be the "weakest" at, or have the most questions at. Because of this, I'll be taking Adrian Peterson, as I feel he is a better ANCHOR to build your RB corps around if you're content (as I am) with having questions at RB2.
6-7 Turn: So at this point we'll work with my roster of A. Peterson, V. Jackson, M. Wallace, J. Witten, and T. Romo. I'll target my WR3 and RB2 here, but if the RB2s aren't to my liking here, I may very well take 2 WRs. This is the make or break point now for Manningham. If he is here at 6-7, he is automatically on my team, roster build be damned. So in this situation, I'll take Manningham, and lets say best case scenario for RB is Fred Jackson. I really like Jackson as an RB2 paired with Peterson, but its only about 50% of the time I see him there. After Jackson I'd consider Joseph Addai, Mike Tolbert, and maybe Ryan Williams depending on if he gets first team reps in the pre-season or not. Addai is as boring as it gets, but he does what he does.
I'll stop things here, because forecasting a draft at this point (and probably the 2 rounds that I did prior) just gets silly because it is impossible and so specific to your league. However, I would gladly go into battle in my scoring format with the team of...
QB T. Romo
RB A. Peterson, RB F. Jackson
WR V. Jackson, WR M. Wallace, WR M. Manningham
TE J. Witten
...And feel very confident that I would be one of the best teams out on week 1. Just my two cents on my draft strategy from #1.
tl;dr Depending on your draft strategy, its Foster or Peterson. For me, I'm taking the ANCHOR of my team as Adrian Peterson.