Originally Posted by aussie_texan
to address the OP.
the value of the first pick is solely with the talent at the spot.
That simply is not true in the salary cap era... You are saying, essentially, that a player with a contract which consumes 4% of a team's cap has the same value as an identical player which consumes 8% of a team's cap room... Of course that is not true. It is the reason why teams, during free agency, knowingly sign a lesser talent for less money- they view that decision to have better value. Before 2011, teams were trapped into a system that deemed that pick (regardless of the talent pool) worthy of a $50+ million financial commitment... Now, the system still determines the value of that pick, but the determined value is about 50% of what is was a few years ago... hence, it is much more valuable than it would have been prior to the new CBA.