Hmmmm. Its kind of similar, actually. Prestige in D1 really really matters. You have to really pick your battles, but there are some opportunities if you pay attention to the big dogs and see one get into trouble (3 battles on 4 recruits, etc). You typically don't wait for dropdowns, but maybe 1-2 cycles to see where the big boys are going to go. I sometimes go for #50-100 players right away, but if no one is on a #30-50 player after cycle 1 I will go for him.
If you don't have some targets lined up by midnight on the first night in D2, no biggie. In D1, that isn't a winning strategy.