I've had problems with it drafting too many pitchers. If you set the total points assigned to position players to about 67-68, and the total points assigned to pitching to around 55, you seem to get about equal numbers.
Obviously, the formula builder totally ignores your position settings. I asked WIS about it and they said it DOES honor position settings. When I pointed out to them that the formula builder once drafted me 23 pitchers, they didn't respond.
I agree with the comment that it's a good starting point, then manually rank as many as you care to.