Draft prep is a multi hour event for me. First, I go the myfantasyleague.com site and do searches for leagues similar to mine and I query all the latest completed drafts. Next, I import the data to an excel spreadsheet and break down by positions, and rank them (RB1-RB50, QB1-QB-30, WR1-WR90) etc.
Assuming I know my draft spot, say I'm pick #11, I look at the #11 team and then look at who that guy passed on and what mistakes he may have made and who he could have had. I try to optimize his team with 20/20 goggles.
I do this for at least 3 different recent leagues with similar scoring rules. If I encounter a team that is making guppy moves, I disregard that draft as an outlier.
From this data, I try to separate tiers within positions, assigning a group value to a set of similar players. I try to set up notes on a side column like "do not draft this player before Rd #2, but do not let this player go after round 4". These are just rules of thumb, but help me to define my value.
Next and final stage, after all the studying, I morph all the recent drafts as my personal ADP list with comments (I'll leave that on a separate laptop). Then I get my main laptop and hook it up side by side and use Dodds VBD excel spreadsheet (the latest version). I plug in my scoring rules and go to the spreadsheet. I follow the VBD list almost religiously, especially taking note of the top 60 list. I will highlight picks as their called off, and follow the ebb and flow of the picks, paying close attention to my leaguemates rosters and what they are in need of. This helps to predict the runs. This is sometimes hard to do with a 70 second timer, but tabbing around my ADP list while seeing the values drop helps to narrow the short list for the next round. Speaking of the next round, I always have at least a half dozen candidate picks in the hopper just in case I'm running short on time.
One more thing I recommend. It may seem like a lot of info, but read up on all of Bloom's articles. From his insight, start to pencil in some notes on your ADP list next to the player's name. Obviously do this well in advance of the draft.