I run an 8 team auction league (total points - not H2H). To make up for being a small league, we start 2 QB, 3 RB, 4 WR, 2 TE (no kickers or defenses). We also have a 9 player bench, so going for depth is key. In fact, year after year there's a guy who completely loads up on his starters and spends just about the minimum on his bench. He's never in contention for the title.
However, if this league you're in isn't set up like mine, then I wouldn't worry too much about acquiring depth at the auction.