From Jay Berwanger, the first-ever draft pick in 1936, to Cheta Ozougwu, the last player picked in 2011, the NFL draft has enabled a system of equality whereas teams pick from a draft-eligible pool of potential players. The draft picks are on a graduated scale with the team with the worst record from the previous season are allowed the first pick from the pool.
By the time draft day rolls around in late April players have been meticulously graded and ranked according to each teams' coaches and scouts. The media and fans all have their own opinions of who will go where when the draft eventually starts.
With unproven coveted rookies all receiving franchise-saving praise, teams treat their available draft picks as high-value commodities. Some look to trade these picks for a better return (either for players or more picks). It isn't uncommon for a poor team to trade a first-round pick away (usually in the top 10) to stockpile many more picks further down. Filling multiple needs sometimes takes precedence over taking one particular player.
A down-trodden organization will feel it necessary to initiate some drastic trades during a draft. None more so than the New Orleans Saints in 1999, who, with then coach, Mike Ditka, felt it was in the team's best interests to trade all their picks for that year and 1st and 3rd the following year, to the Washington Redskins. In return for trading those picks the Saints received the right to pick running back Ricky Williams in the fifth overall spot.
Coach Ditka believed that Williams was the best player in the draft and the price was easy to pay. In retrospect, there were only two players of note on the opposite side of that deal; linebacker LaVar Arrington (injury-shortened seven-year career) and tight end Desmond Clark (currently a free-agent in 13th season). In effect, with Williams still considered a threat at running back (although he announced second retirement after 2011 season); coupled with his off-field issues, the draft wasn't a total disaster.
Another well-received trade has to be San Diego Chargers' trade of the No.1 overall choice in 2001, in which Atlanta picked controversial quarterback Michael Vick. San Diego took running back LaDainian Tomlinson at 5th overall (with wide receiver/kick returner Tim Dwight and a couple of other draft picks thrown in).
Many teams panic on draft-weekend and make some awful decisions. One of the biggest is notably quarterback Ryan Leaf (taken 2nd overall). Vilified as possibly the worst pick in the entire history of drafts, he was taken in the same draft as future Hall-of-Fame enshrinee quarterback Peyton Manning (No.1 overall). The mystery still exists how two quarterback picks could have gone in such stunningly different directions.
Leaf (who only lasted four seasons) may have been a good prognosticator in relation to Manning's future by making this boast about himself "I'm looking forward to a 15-year career and a couple of trips to the Super Bowl". It shows that draft position has very little to do with any guarantee of production when it comes to the NFL game.
The best aspect of drafts and the decisions people make is that no one knows what those choices will ultimately result in. It's a boom-or-bust system that gives football the unpredictable nature that all fans of football can enjoy. One pick or trade has a direct influence on the future of your team for years to come.