Who else is available? I'd be happy to take him there, although there is a small chance he could be there when the draft comes back. If you really want him, i'd take him at 8. I expect him to put up another vladdy year.
I took him 10th in the Cafe Challenge league, he might have slipped to 12th overall but very unlikely. If you really want him at that spot you will have to overspend a little or try a trade-down (if thats legal in your league).
I am entirely not sure why his stock is dropping but he is only 31 and still one of the premier hitters in baseball. He seems to like even number years better but .325, 35 HR, 100+ RBI, 15 SB seems like a safe projection. If only he had more support, then I would think his numbers will be slightly better.
I would take him 8th if you really want him. He may make it to you for round 2, but with the shortage of real good outfielders you would be taking your chances. I think that 8th wouldn't be a reach to take Vlad there. You'll still get a great pick in round 2. It's hard to tell who will be there. There's a big change in round 1 picks this year with the emergence of Reyes, Howard,Utley, etc... . Santana may even make it to you.
I have Vlad ranked 7th on my list.
He has to fall apart sometime. It's hard to put 9 guys ahead of him though. Arod, Pujols, Howard, Ortiz, Cabrera, Johan, Reyes, Utley and Soriano? Most do Utley, I don't. Some don't do pitching. I think Soriano has just as much risk/reward as Vald. I'd rather sink or swim with Valddy. The tough ones for me are Wright and Crawford, with an outside shot for Beltran.