Fun topic.
i used to have a cheat sheet of my own, and Sportsline's cheat sheet to know where my league mates would be targeting players. Then id have my positional rankings sorted by tiers. But my leagues have evolved - now all of my leaguemates are using multiple data sources, so I just go with a generic ADP chart instead.
I've simplified my processes - too many times I just had too much data in front of me to process and I'd suffer from "paralysis by analysis". Or I'd have to cross out the same player on 5 lists. It's a lot to do with 2 mins on the clock.
So now I follow a more relaxed approach:
1. Prepare as much as possible. Mock using live mocks, self-mocks using ADP & my projections for that format and lately using the FFPros mock tool (which I love - it's not perfect but it's very useful at determining strategy for different draft positions). I'll mock as many as 10 times for each of the 12 positions, all the while researching players, which really helps me to familiarize myself with the field before my draft.
2. My personal rankings and tiers for each position sorted in a mead binder with dividers. That's it. I list ADP in a column, my projected points for that scoring system, tiers, and I highlight my favorite targets in bold/italics. Keeps it very simple.
3. I make a draft sheet with some notes. In light gray on the "player" field, I'll put some potential favorite targets. Just to remind myself who I love in that round, and it reminds me to check all my rankings.
4. I check every position list, every pick. I never want to miss a great value that's slipped by being so focused on the one player or position I was targeting.
5. Every round I check the teams ahead of me in the serpentine. Example: If I'm at 5 and QB free-falling, and teams 1-4 all have QBs, it's a low % that any of them are going to take another one. Same with RB/WR. I'll check my tiers and identify how many of my targets are there and try to determine who will make it back if there isn't a no-brainier pick. If I'm debating between a RB & a WR in round 4 and I've only got a couple RBs I like there, and teams 1-3 all stacked on WRs, it becomes an easy decision to go RB. If there's no obvious decision I make my best guess and hope for the best. Sometimes that means just counting 7 players I want on the way back and I'm guaranteed to get one of them.
6. Talk smack, have fun, drink beer, laugh a lot. I do live drafts with good friends. We take our fantasy football seriously, but we also take our drinking seriously. And if I can mock someone's pick and get a lot of laughs maybe it throws them off their game on their next pick. if it works even once it might help you. If it doesn't work at least everyone had a good laugh and you got to break your buddy's balls.
7. Deep breaths - relax. You should have done enough prep work to never have to stress or panic during a draft. The simpler I keep my processes and the more prepared I am, the more relaxed I feel all draft. And those have historically been my best teams.