I have schwarze's proxy and commentary. Still need to decide on my pick, though. Here's his for now:
This may be the dumbest first round pick of all-time, but I've tried the "draft the best pitching" strategy in versions 1 & 2 of this theme and it's produced mediocre records. So let's try something different.
1978 Ted Simmons, C ($6,078,827)
Not only do I not take the best catcher available, but I don't even take the best Ted Simmons available.