After reading all this, my view is best captured by what Moleculo says above.
I'm a VBD believer, just like most people on this thread. One of the hardest parts of VBD is selecting an effective baseline. Baselines like "top 100" or "all starters" or "all drafted" are arbitrary and often give poor VBD results, because they do not accurately reflect how real owners draft players. Using a baseline based on ADP would be an improvement, since it would more closely reflect how real owners will draft. But because different leagues draft differently (often based on different scoring systems), even using ADP as a baseline would give less-than-satisfactory VBD results. So Freshly Shorn's proposed method of creating a baseline tailored to how your particular league has drafted historically ("MPD") seems like an improvement over a simple ADP as a baseline. It's goal is to use historical results to predict how your particular league will draft in 2012, so you can predict VBD scores before the draft begins.
An even better approach might be to start with MPD's historical averages, and then tweak them based on how you sense your league's draft will go down in 2012. This tweaking would allow you to predict changes in the 2012 draft. For example, in 2012, it certainly seems the top TEs (Gronk and Graham) will be drafted in the 1st or 2nd round of many drafts. This is a big change from prior draft years. The MPD approach will fail to capture that change, and will inaccurately value Graham and Gronk in 2012. The easiest way to fix that problem is to allow for tweaking based on your predictions of how the draft will flow. I think someone above suggested combining MPD with current-year ADP info, and that seems like a promising approach.
But Moleculo raises the key question: If you're doing all this work to improve the accuracy of your VBD baseline, why not go ahead an take the next step to dynamic VBD? Dynamic VBD is specially geared to predict how the draft will flow in real time, on a round-by-round basis. It's certainly more accurate to create a continuously improving baseline with realtime data than it is to rely on old data.
In the end, it seems a little like you're trying to build a better gasoline engine (and maybe even succeeding!), while ignoring the fact that the auto market is shifting toward electric power for cars. It seems like a better solution that MPD already exists (dVBD), so why not put your efforts into creating an improved dVBD system, instead of tinkering with static VBD baselines?
(BTW, I mean this a constructive criticism and a suggestion for future work, not an attack of any sort. You're doing good work here, but I just think it's misplaced effort.)