They're going later. I've picked up some dud first rounders since the change-- but i also got a guy at pick 41 who looks like he's going to be a legitimate SP2, and a very good 120 IP SuA in the 3rd round. I also had a true stud pitcher (maybe only 140 IP but truly outstanding) fall to me at pick 11.
In my brief experience, fuzzier projections, and especially not being able to see current ratings, have had the desired effect of making the draft less predictable and look more like the real draft. You can decide whether you like that or not.