RJ, drafting more pitching is probably going to be the optimal strategy in an unbalanced league, however, you have to look at how many categories a guy will help you out in. If a batter can help you in 7 categories, or even in 6, he's more valuable than a pitcher who helps you in 5 categories.
But since there is no Holds category, it doesn't divide up your pitchers too much. Most pitchers will help you in either 6 or 7 categories. So pitching is the optimal strategy.
There's a twist though. If all of your opponents in the league go for pitching early, it leaves a lot of good hitters open for you. So if, of the 8 people before you, 5 or more take pitchers, just go for hitting, and let them fight over the top pitchers.
A lot of the time, Roto strategy consists of figuring out what everyone else is doing and then doing the opposite (as long as you're not doing the opposite of "get good players").