Rashaun Woods... Marques Colston...
Not that we could have guessed it ourselves... but to think that draft rank and FF production are perfectly correlated is dead wrong... we don't even know all the raminications (lobbying / contract amounts / etc.) that goes into a draft selection - so to think it's always BPA is evidently wrong...
While good examples, there are far more FF studs from the 1st round than there are in subsequent rounds. Rashaun Woods just shows that every year, a good percentage (probably pretty consistent year to year) of every round is littered with busts. Just making up numbers, but probably something like 1st - 50%, 2nd - 70%, 3rd - 80%, .... 7th - 98%. Colston is mentioned, but how many of the other 31 7th round picks had an impact? Look at the 1st round and you have Cutler, Young, Leinart, Bush, Maroney and Addai (probably missing someone, just going from memory).For example at QB, for all the Tom Brady, Bulger and Delhomme examples, there are always a slew of 1st rounders like Vick, Vince Young, Manning x 2, Palmer, Leinart, Cutler, Rivers, Alex Smith, McNair, Leftwich, Roethlisberger, etc. I did a quick glance at my FF league with is a start 2 QB, so most teams are represented and 1st round QBs start on 18 of the 32 teams. That number was a quick count, but still shows my point. Even in my PPR league, 5 of the top 10 RBs were 1st rounders and of the other 5, only Willie Parker was not a 3rd round pick or higher.
Anyway, I think my main point is that the NFL Draft is probably the best predictor of talent we have, but the only caveat is that no one, including the best scouts is perfect and so some of the best NFL players slide more than they should and some of the top propsects bust out.
One other point, the only thing I noticed was that some of the top FF guys that were drafted later usually had some measurable issue, i.e. size (Tiki, Westbrook, MJD, Parker), school (Colston) or injuries (Gore). If someone seems to play better in college than their measurables would dictate, then that may be a guy who slips and does way outperform their draft slot.
ETA: I know I am probably just stating the obvious, but this topic and the whole pick safe (i.e. OL over QB) in the 1st round come up a lot with 1 or 2 names thrown out as proof. I went back over a lot of draft history and basically it seems like most (@50%) NFL starters are 1st round picks and there seems to be no correlation between position and "bust safety" in the draft. You can list as many OL busts in the early 1st round as you can QBs and RBs.