Last year I did that, not as a strategy going in, but because pitchers started flying off the board left and right and I just got great value on hitters that I couldn't pass up. I actually won the league that year, because I was able to trade a lot of my bats midway through the year to get pitching. My final staff had Bondy (traded for him), Verlander (traded for him), Liriano (FA pickup), Penny (FA pickup), and Bedard (drafted him). I also had Borowski (FA pickup), Paps (FA pickup), and Rivera (traded for him) as my closers. So, obviously you have to get lucky, as well as making good pickups and trades, but it absolutly can be done.
2011 Live Free or DyNasty Champ