I think that you should go RB-RB (say Cadillac Williams-Domanick Davis or Willis McGahee) at. 1.12 and 2.01. Yes, Steve Smith would be tempting, but I'd say that this is the way to go.
Then at 3.12 and 4.01 go WR-WR (Hines Ward-Darrell Jackson or Plaxico Burress).

That is exactly how I play the bottom end of the first. I also like to wait at QB and take two at the 7/8 turn, and wait at TE and take two at the 9/10 turn unless a great TE presented himself at 7/8.
I just simply write off the first 8-10 TEs and 8-10 QBs from my list and I look below there to find which two guys I would be most content with. I then look to grab both of them.
My rationale with the first four rounds is that when you grab the RB10-14, there is a great chance one of your picks bust - if you take two, you maximize your hedge and make sure you have a solid starting RB - grabbing two WRs at 3/4 does the EXACT SAME THING. This year, I am really not 110% sold on CJ/SS as the top-2 WRs and I think there is an excellent chance of a top-5 WR falling to the bottom of the third (
think TO, Moss, Harrison falling - if all your leaguemates are so RB crazy, they probably suck up the RB pool into the third round rather than snaking over to the WRs).
Also look to trade up from the bottom of the 3rd, if trading is possible, esp to get a top WR and use trading out of the 5/6 turn as the incentive - maybe swap 6th round picks. Use the trade dominator on FBGuys.com (shameless plug)
Anyway, while I don't love it, I don't hate the 1.12/2.01 turn for building a champ. team this year.