I would think that Leonard Davis has to be considered a disappointment in that he was the #2 pick and has been at guard his 1st 3 seasons. Guards usually don't go #2.
As far as the 2nd round is concerned, the Pats have to be happy with their selection of Matt Light. Starting LT on 2 Super Bowl teams in your 1st 3 years? Talk about a guy who's underrated.