I picked up a team from someone who had abandoned the team and league. The positive of this experience is that I have the first pick in an up coming draft. No pitchers are ranked by Hbd in the top seven. All player in the top seven are middle of the field position players; 1-c,1cf, 2-2b, 3-ss. My rankings shows the catcher as the third best player. However when I rank draft prospects I divide them in tiers. First tier is 85 or over, second tier 78 to 84, third tier 77-73, fourth tier 72-66. As a rule I rank players by the HBD ratings and never picks guy who is a 84 over a 85. I know this sounds stupid but you have to draw a line somewhere and it does seem to keep me from picking someone horrible .
The worst case scenario in a HBD draft a minus four. The guy you thought was a 82 is a 78 when you sign him; not to be compared to your division rival who signed a 80 who turns out to be an 84. I hate drafting minus fours but if you put enough plus fours together you get a division contender or better.
Getting back to the catcher who is a high second tier player and ranked third in my system. Since there are so few catchers who have high HBD ratings compared to other positions; is there a competitive advantage to pick the catcher or would you pick the best available ss,2b, or cf ?

What is your High School and College scouting budget at?
Are those prospects in High School or College?
Two biggest questions before deciding.

Since you're talking only about the prospect's Overall rating, I'm gonna say this - for everyone - and apologies if you already know it. Seems like you might.

Overall rating takes into account Everything including the player's "Intangibles"... his Durability, Health, and Makeup.
You can literally find a great guy who can play 162 games who isn't really a good hitter.

And SS and 2B will almost always have higher Overall ratings than any other positions because of their higher fielding ratings. Using your approach, you can end up with a lot of SS/2B/CF options which isn't a terrible thing.

I have nothing against drafting a stud C, and you're right, the draft system only generates them rarely.
But also because the DiTR system seems to be based on Overall ratings as well, it turns a LOT of Cs into major league DiTRs.

So my answer to your question is this - if the Catcher you're seeing looks like a good hitter, fielder, AND has high Durability, then from everything I've seen that player is a competitive advantage.

(I've also seen, I remember, a Catcher with 97 Durability who was always a Type A in free agency because of it, and no one would sign him, because he couldn't hit.)