In general, compared to normal leagues, studs are comparatively worth less in best ball leagues, and depth is worth comparatively more.
In leagues with a draft, the difference is manifest mainly in roster allocation. In a standard league, you don't want a backup kicker or a backup team defense. You can use the waiver wire as needed if your starters fail. In best ball, backup kickers and defenses are valuable.
In auction leagues, the top players should be had at a discount compared to what they'd go for in a standard league. Since not all fantasy owners realize this, and the top players actually don't go for a discount, the best strategy is often to skip taking the top players at any given position, and instead increase the quality of your depth. If you're going to carry three QBs in a 12-team league, for example, instead of trying to get a top-five QB and then backing him up with, say, QB18 and QB30, you should instead try to get three QBs that are all within the QB10-QB18 range.
But as always in an auction league, there's no single strategy that is always right. The best strategy for you will depend in part on what strategies your league-mates are pursuing.
(The reason that studs become less important, and depth more important, in best ball leagues is that bench points are worthless in normal leagues. But they're not "bench" points in best ball leagues. Just because you wouldn't have started a guy if you'd had to designate your starting lineup ahead of time doesn't mean you don't benefit when he unexpectedly blows up. Similarly, it's very important in normal leagues for your studs not to have a bad game. He's definitely starting for you, and if he is a dud, you effectively have a hole in your starting lineup. But in a best ball league, you'll be covered if you have adequate depth. So it's not as big a deal if your QB1 isn't a stud, and it's not as big a waste if your QB3 ends up being good. Therefore, it makes sense to shift some resources from your spending on a QB1 to your spending on a QB3, as compared to a normal league.)
(On a side note, players like Percy Harvin and Michael Crabtree -- guys who will play less than a full season, but are generally quite good when they do play -- are also worth less in best ball leagues than in normal leagues.)