My general premise is as follows:
Draft 15 position players having salaries of $200,000K. You will never use these guys, as you will send them down for your 15 best AAA position players. This will account for $3,000,000 of your salary.
Use the remaining $42Mil on pitching. Spread this around on 6-8 pitchers. Make sure you have at least 3-4 pitchers having $200,000 salaries, as you will send these guys down for your best AAA pitchers.
Other owners may give you different advice, but I think most would agree that this is a strong foundation on which to build your team.
Let me know if you have any other questions. Best of luck.