I've read people that say pitching isn't all that unpredictable when compared to hitting. I do like the idea of drafting two hitters for every one pitcher in the early rounds, just based on most leagues' roster requirements but I'd never predetermine what kind of player I'll pick in each round. I know not adapting to how your draft goes and sticking to a rigid plan will hurt you. Other than that I just shoot for the best player, ignoring scarcity. I'll take a 40 HR 1B and 5 HR C if someone else wants to come at me with a 20 HR C and 25 HR 1B. I think there are good deals to be found on the waivers on both hitting and pitching. Kevin Millar & Orlando Cabrera went undrafted in my league last season (as well as a few of the other Red Sox that had career years). A couple SB artists always seem to come out of the woodwork as well (Podsednik & Alex Sanchez).
Of course I've lost in the semis the last three years running, so maybe this is the blueprint to building a team that looks pretty good in the regular season (2nd place last season) but doesn't deliver in the clutch