i'm starting my second year in a league that counts batter strikeouts, and i'm just starting to get the hang of it.
i also think you and many of these posts are missing the point.
it's not about who you avoid or who you go after to get good K points. it should be just another factor in determining value.
in other words, high strikeout numbers bump a guy down your rankings, low numbers bump him up. these minor changes in regular 5x5 rankings (which some of your leaguemates will invariably use, despite your additional categories) will help you win.
i tried crunching some numbers into the projection tool at rototimes.com. i couldn't get batter strikeouts in the roto tool, so i had to do a little fudging with the points tool.
i used these values for the hitters:
HR: 2 SB: 2 R:1 RBI:1 Hits:1 K:-1
Obviously, it doesn't translate directly to roto, particularly since i had to use hits instead of average and i'm unsure on exactly how to weight the other categories to get them right. Still, you could get some big patterns.
With these guidelines, here are some good guys to target. Keep in mind, these are guys who are already contributing to other categories very well. The low K totals are just icing and cause to bump them up a few places.
Albert Pujols (like he needed any more value)
Gary Sheffield (although his Ks were up a bit last year, borderline first-rounder in league that counts Ks)
Juan Pierre (he's a four-cat stud in strikeout leagues)
And here are some guys to move down in your rankings. Keep in mind, don't avoid them altogether. If they're dropping farther than they should in the draft, scoop 'em up. But their value is a little lower than in most rankings.
Alex Rodriguez (no, he shouldn't be around in the second round, but i wouldn't take him with one of the top three picks in a K league)
Adam Dunn (OK, here's one i would let someone else take, unless he's around in the 15th)
The key is making sure you don't sacrifice all your power. HR hitters are often free-swingers, more prone to strikeout. You'll find that your power can take a big hit if you get too preoccupied with strikeouts. Just try to maintain some balance, so you can get a good all-around team. Aim for the middle of the pack in strikeouts.