Personally, I think the best strategy is to NOT have any strategy set in stone going into the draft. Drafts are dynamic events, and there are parts of drafts that you have no control over. I would be flexible, and focus my attention on three things. #1 pre-draft preparation... and that includes doing as many mock drafts as possible, even if the mock drafts don't exactly simulate your league, it's important that you know as many players as possible, so nothing slips by you come draft time.... #2 have a way to monitor how your team is projected to do in each of the 10 categories as the draft progresses. I never like to punt any categories, but like to draft a well balanced team as strong as possible in all categories, that way you can go for the knock out punch. If you punt a category, you are never going to win by a convincing margin. Your league is very deep, so there won't be many good free agents left after the draft is over so it's important to draft well, there's little margin for error.... #3 Make sure you value players based on position scarcity, I like to use replacement level algorithms for this... also since it's an auction draft, if possible try to keep track of inflation, and how much money everyone in your draft has left to spend. A good piece of software or really good cheat sheet is a must.
Like I said, be flexible and draft preparation helps out tremendously in this regard.