1:1 - Andrew Luck - QB - Standford
Need: We just cut a HOF QB.
Value: Best QB prospect in years.
Grade: A+
I Would've Picked: n/a
Analysis: Great pick, 2011 was awful but it will probably have been worth it.
*****
2:2 - Coby Fleener - TE - Stanford
Need: We have one TE and he only blocks.
Value: This is about where he was expected to go.
Grade: B-
I Would've Picked: LB Courtney Upshaw or OG Cordy Glenn
Analysis: I am not a fan of just copying the Patriots and I don't think Fleener is that special. I don't see him being a top 5 TE in the NFL. I hope I'm wrong. I think we should've gone defense with this pick, or Rueben Randle, or traded back if possible.
*****
3:1 - Dwayne Allen - TE - Clemson
Need: We just drafted a pass-catching TE and this guy is slow.
Value: About where he was expected to go.
Grade: B-
I Would've Picked: CB Josh Robinson
Analysis: I don't know if this was the plan all along or if it became the plan when the draft fell the way it did. It seems pretty intentional which to me doesn't say BPA. I would've definitely gone defense here. This TE class is pretty weak and we could've gotten a better athlete in Taylor Thompson or Egnew later in the draft. Hopefully he is not a typical Clemson prospect. If everything goes right our offense could be very difficult to defend.
*****
3:29 - T.Y. Hilton - WR - Florida Int'l
Need: We just took 2 pass-catching TEs and might already have WR1, 2, and 3 on the roster, so I'd say it's low.
Value: I'm not convinced we needed to trade up or that he was worth giving up a pick next year for. Kickoffs are going away so returners aren't that valuable anymore.
Grade: C-
I Would've Picked: NT Alameda Ta'amu or OT Bobby Massie
Analysis: He seems like a Desean Jackson type of player. I am trying to be positive but I wonder how we are going to play defense and ever get the ball back for Luck and all these weapons.
*****
5:1 - Josh Chapman - NT - Alabama
Need: We have two backup/rotational types on the roster but no starter.
Value: IMO, Chapman is a late 2nd/early 3rd round value so getting him in the 5th is excellent.
Grade: A+
I Would've Picked: n/a
Analysis: I expect Chapman to be our starter at NT. Maybe not this year as he recovers from ACL surgery. But at least starting in 2013, maybe midway through this season. This is my 2nd favorite pick after Luck. Love his toughness, attitude, and understanding of the NT position.
*****
5:35 - Vick Ballard - RB - Mississippi St.
Need: We already have 3 RBs, two that are very similar to Ballard. Another offensive pick?
Value: This late value isn't a big issue.
Grade: C-
I Would've Picked: S Markelle Martin, OG Brandon Washington, WR Tommy Streeter
Analysis: He seems awfully similar to Delone Carter and Darren Evans. There were better players on the board that we need more than another RB.
*****
6:36 - LaVon Brazill - WR - Ohio
Need: OMG more offense, really?
Value: A comp. 6th selection can't really be bad value
Grade: F
I Would've Picked: CB Alfonzo Dennard, DE Cam Johnson, LB Audie Cole, SS Antonio Allen
Analysis: I know nothing about this guy but we already took a QB, 2 TEs, a RB and now a 2nd WR? When a 2nd round CB talent was still on the board? Come on. Wasted pick.
*****
7th Round Picks:

Justin Anderson - OT - Georgia

Tim Fugger - DE - Vanderbuilt - A+ for looking like the villian in a Karate Kid movie.

Chandler Harnish - QB - N. Illinois
OVERALL GRADE: B-
Luck and Chapman were slam dunk picks. The TEs seem luxurious for a team trying to transition to a 3-4 but they may become the engine that drives our offense. There was a lot of talent still available when they were picked so they will really need to produce to be worth it. 1 WR would've been fine but 2 was irresponsible, especially with the defensive talent still available. Same for the RB, needless. I didn't grade the 7th rounders because I don't expect much from any of them.