SSOG said:
This is the biggest logical fallacy I've seen on the boards, and it's also one of the most oft-repeated. It makes no sense whatsoever. Drafting Gates will not weaken any position except for one (whichever position you would have drafted had you not drafted Gates). For instance, compare the two following drafts:
RB/RB/Gates/WR/WR/QB/WR
to
RB/RB/WR/WR/WR/QB/Gates
In this instance, drafting Gates in the third only affected ONE position. The rest of your team is exactly the same except for one WR. The question now becomes whether Gates + the WR you get in the 7th would outscore the WR you could get in the 3rd and the TE you could get in the 7th. It's as simple as that.
I dug into some projections to compare numbers. For an easy reference, I used Clayton Gray's Catch Performace cheatsheet (to account for your PPR) for your starting roster from the 159 cheatsheets section.
http://www.footballguys.com/cs_c1e.htm to be precise.Considering the two scenarios posted above, we see that TEs aside from Gates do not have the value to put them in the first five rounds. He is the 36th best value, last pick in the third round.
Drafting Gates in the 3rd, you should end up with something like...
3.1 Gates - 232 points
7.1 Jerry Porter/Derrick Mason/Brandon Jones - 152 points
though you may be further down the list for WRs.
Drafting a WR round 3, you get...
3.1 Javon Walker - 243 points
7.1 Tony Gonzalez 179 / Jason Witten - 160 points
assuming three TE run in the sixth before you pick.
IMHO Drafting Gates from the 1 spot in a 12 league team doesn't optimize your value. Not likely he'd drop to 4.12 either.