I prefer late fantasy drafts over early ones.
So many players get injured, lose their starting jobs, or get cut during the preseason, that it makes a first week in August draft, too much of a crap-shoot for me.
For instance, I liked Matt Flynn as a late-round back-up QB--depending on my starter (like if I draft Michael Vick, I'd will certainly grab a decent second QB).
But today, it was announced that rookie Russell Wilson earned the starting QB job for the Seahawks, and Flynn will be holding a clipboard (an expensive clipboard holder at that with his $10 million guranteed).
Also, I don't go after a kicker until the end of a draft. As such, I take whomever is left--as other owners have grabbed the top rated guys.
Going into camp, I liked Texans' rookie K Randy Bullock. He was a 4th round draft pick, was almost certain to win the job, and Houston is a high-scoring offense that would give him plenty of opportunities to score (the experts had him rated anywhere from the 10th to 15th best fantasy kicker).
But also today, the Texans placed Bullock on Injured Reserve for the season due to a groin injury.
Thus, an early draft of Bullock would have left me scrambling the waiver wire for an emergency replacement (if I stay Texans then Shayne Graham may be that kicker).
In any event, fantasy drafts that are held at the end of the preseason are the best in my opinion--at least you have a clear picture of players that will compete in Week 1.