I posted this in another thread, but it makes sense to post here as well. It relates to whether Jimmy Graham is worth a first or second round pick (seems like the near consensus in fantasy) and the top 5 QBs aren't (which also seems to be the trend this year).
Last year, in standard scoring, 6pts a TD. Graham was the #1 TE and he finished 57 points higher than the 12th TE. The #1 QB last year scored 110 more points than the 12th QB. Ok, so we say Graham has huge upside. Best case scenario would be like Gronks 2011. That year Gronk was 143 points higher than the 12th TE. However, the #1 QB in 2011 finished 170 points higher than the 12th QB. In 2010, it was +73 vs +58 in favor of the QB again. Just looking at the numbers, getting the top QB is going to get you a bigger edge on points at the position than taking Graham. If you take Graham, you are taking the fact that he is reliable and is the surest bet to be the #1 TE, but not because he gives you a massive points advantage.
To add to the Jimmy Graham vs QB sub-topic here, if you grab Brees, Rodgers, Brady, Manning or Cam you have a drafted a QB that has shown that in nearly every year they have started in the NFL, they were a top 5 fantasy QB. It is a guess as to who will finish first overall, but you can be pretty confident you have a top 5 QB. In a prior post,I looked at point differentials for best case scenario: #1 QB vs #12 QB. What about the most likely worst case scenario? #5 QB vs #12 QB.
QB 2012: +56 2011: +121 2010: +56
The advantage with Graham is that there isn't much reasonable competition to prevent him from being the #1 TE. So here again are the #1TE vs #12 TE
TE 2012: +57 2011: +143 2010: +58
That means if you take a top end QB instead of Graham, Graham either needs to have a Gronk 2011 type year or the pick was a dud. The 5th QB likely outperforms the 12th QB to the same degree that the # TE1 outperforms the #12 TE. However, if that QB finishes higher than 5, they are definitely going to give you a greater points advantage than Jimmy Graham.
1 vs 12 is not the entire story. 1 vs 2, 1 vs 3, 1 vs 4, etc, is still very applicable. That is why Graham is so unique, and VBD is not a perfect measurement of his value.
Also, your numbers assume no PPR and no flex. In such a league, maybe going QB earlier is a better. But most leagues have both PPR and flex spots.
I agree that 1 vs 12 isn't the only way to look at it. I agree 1 vs 2, 1 vs 3, etc. is applicable. However, you haven't shown how that applies to making Graham so unique or so much more valuable.
Also, do most leagues use PPR and flex?
Do most leagues have ppr and flex?
The reason Graham is more valuable, is because he is so unique. Assuming Gronk misses time, and isn't himself, Graham is a safe bet to dominate the field. There isn't another player we can say the same about. He gives you an advantage over 90+% of your league.
It is very hard to skip RB in round 1, and still have a strong team, as there are so few safe RB investments. It's even harder if QB is the position you take over RB. There is just no value in Rodgers or Brees in round 1, when Peyton is there in round 3.
McCoy/Peyton >>> Rodgers/Murray(or McFadden, or any other RB in round 3)
There are just too many solid QB options, with both security and upside, to justify taking one in Round 1. It's just not enough of an advantage over your league, in my opinion.
I assumed most use PPR and flex spots, but that is only my assumption.