I've rolled the dice on Washington as a #4 WR in a 14-teamer, 44 roster spot (+4 taxi) dynasty IDP league that is an auction drafting league.
Total Starters: 21
Number of Starting QBs: 1
Number of Starting RBs: 2-3
Number of Starting WRs: 3-5
Number of Starting TEs: 1-2
Number of Starting PKs: 1
Number of Starting DTs: 2
Number of Starting DEs: 2
Number of Starting LBs: 3
Number of Starting CBs: 2
Number of Starting Ss: 2
As you can see, we might start up to 5 WRs in any given week, depending on bye weeks/injuries at other positions, so I wanted some "boom" potential from the WR 4 and WR 5 in the event that I am ravaged by injuries at RB and need to go to 5 WRs in any given week. My other home-run hitter is Devery Henderson
Ginn Jr., Ted MIA WR - 6 $2.70 1
Henderson, Devery NOS WR - 5 $0.10 1
Muhammad, Muhsin CAR WR - 4 $1.10 1
Stuckey, Chansi NYJ WR - 9 $1.40 1
Washington, Nate TEN WR - 7 $0.80 1
Welker, Wes NEP WR - 8 $4.80 1
I also have Brian Robiskie on my taxi squad and could promote if necessary - Chansi Stuckey looks like the "other" starter in NYJ across from Cotchery if he can hang onto the job in training camp. If he doesn't, I'll dump Stuckey and promote Robiskie.
As you can see, out of a $75 cap (bids in increments of .10) I didn't put a ton of cap space into WRs, preferring to anchor with Wes Welker and then draft a speculative (but cheap) roster of WRs. Muhammad is an adequate #3 fantasy WR IMO, and I look for Ginn Jr. to elevate his game significantly this year (I have him ranked at #24 on my WR board, highest among the staff). I also have some FA money assigned to this position to pick up emerging undrafted WRs during/after training camp.
I freely admit that based on a rear-ward looking perspective, the roster is weak. However, I am optimistic that Washington is the #1 target/WR in TEN by September (he certainly has the opportunity to be a Bernard Berrian-like deep threat with defenses concentrating on Chris Johnson and LenDale White up front), and I believe that Muhammad will remain productive this year despite his advanced age (many others don't agree). Stuckey and Ginn are speculative picks but I like their chances to do well.