I think you can get away with tanking steals and do just fine. I wouldn't advise tanking 2 categories, however. That will doom you to mediocrity.
Get as many .300 hitters as you can with some power. Forget speed, and the Ichiro's and Damon's unless they fall to a value pick. Getting an A-Rod, Soriano, Pujols, Unit/Schilling/Pedro, Bonds, is the best way to start your team. These guys pretty much dominate categories for you since they produce so much more at their positions. Prior could have been tabbed this year as a 3rd-4th round pick to anchor your SP staff. SP's that can get 250+ K's are rare, and valuable because of it. Look for filler SP's that can get 1K/IP, or may approach 200 K's. Avoid SP's with high ERA's and WHIP'S. Woody Williams is a an example of a guy who probably fell way too far in most drafts. Not too many K's, but his history with the Cards is excellent, and over a long enough period of time to mean it is no fluke.
* Steroid induced record