In my long term keep 4 league (8 teams), I started out with Steve Smith. The top tier guys were kept or taken in the first few picks. My top two choices of the available receivers were Dwayne Bowe and Vincent Jackson. I knew Jackson would slide past TO, Houshmanzadeh, Marshall(early August)and either Ochocinco or Welker so i picked Bowe with the sixth pick and VJack when it came back around. I supplemented this lineup with AGonzalez in the 8th, Hester in the 10th and somehow KWalter in the 13th.
In my 12 team, new draft league, I went a different way. Andre Johnson fell to the second, where he was irresistible, Steve Smith was still there in the third. With two top tier receivers, I felt i could wait and pick up sleepers, while I used picks on other positions. I ended up taking Walter again, which I don't like because I already had AJohnson. My only other receiver was Hixon. I'm obviously not happy with my third receiver situation, but in a 12 team league, it's ok to have one bad spot and my rb situation has enough depth that I hope to be able to work a trade at some point.
My auction team ended up with Steve Smith(surprise) Vincent Jackson and Desean Jackson. After spending money on 5 running backs, I didn't have tons of money left so I got the Jacksons on the cheap instead of spending a few extra bucks on someone like Bowe. I obviously love VJack this year and between Desean and Hester, my third wr spot should be covered without taking up a lot of roster spots.
My final draft is this weekend. Its a 14 team league in which I have the first pick. That means my next two picks are 28 and 29. I'm hoping that either Wayne or White slips to this spot. That may be in vain, and I believe i need a receiver in this spot. I don't there is real qb value at that point in the draft and I'm not going to take a third rb. If for some reason those two guys are both there, I'll take them both. If not I'll settle for Boldin most likely. With my 54 and 55 picks, I'll likely take one of ABryant or DJackson. I'd love VJackson at that point but while he is available in espn drafts at that point, he is not in cbs drafts.(go figure) After that I'd love to take Hester at some point.
UPDATE: Wayne and White were gone, but Steve Smith was there. After a long debate featuring Anquan Boldin, I decided to follow my own rankings. Steve Smith in 4 leagues, I'm counting on you. Pick 55 was used, as planned, on Desean Jackson, not a bad number 2. Later on, Hester was taken one spot before I planned to take him, leaving me with Santana Moss as my number 3. I'm less than thrilled. I didn't even take a backup, there was nothing left on the board. Hopefully I can trade Beanie Wells for a better third receiver.