Hmm, would you guys consider Bryant "Big Country" Reeves at #6 by the Grizzlies or Joe Smith at #1 by the Warriors? Cherokee Parks at #12 by Dallas is also a good one.
Joe Smith didn't instantly suck coming out. He's had a few good years. He was actually very solid for his first 4 years after going draft. He's still been a good role player after that 4th year, but he hasn't been nearly as good as he was early in his career.
Also take into account that he was drafted by the Warriors (appologies to REREM) but lets look at the long history of players drafted by them and what they amount to. Yes, there are some exceptions, but few and fer between.