Overall I have to disagree with a lot of the advice given here. Yes, the draft is definitely a bit of a crap shoot, but I think if you go into it with the right point of view, it can be very worthwhile to scout and draft guys.
First, if you look at most leagues' draft histories, especially USA D5 and D4, most teams get one of their first 2 or 3 preferences in the first round. Even the last 7 years of my D3 league, the top 8 picking teams almost always got one of their first 1 or 2 preferences. But that's even more likely in D5, where often so many teams are bot controlled. So, if your draft board has three acceptable choices, very likely you'll get one of those. Even picking 13 and 16th in D5 got me sufficiently good players to train (one great, one acceptable, but didn't quite fit my training plan, so I sold). And picking 15th in D4 got me another great player. Lucky? Hell yeah. But also that would never have happened had I just done the draft randomly.
Now, like I said you have to have the right frame of mind going in. Are you likely to draft a player you can sell for a million bucks? No. Probably you won't make your scouting money back in the draft. Are you assured of getting a high salary player, with great potential? No, but even a modest potential player can be trained into a good contributor, if you do it right. And then, even good skill ball rated guys can have big holes that make them hard to train. But if you consider the merchandising bonus on a drafted guy, then that can make a lot of those uncertainties worth trying to get.