Most of the fantasy baseball stuff posted will be in the context of my league: a 10-team Yahoo head-to-head league that scores 6x5, where the extra hitting category is OBP. Obviously, hitters are slightly more valuable in this format than pitchers.
With all the great stuff we've heard about Francisco Liriano, I looked through the player rankings at Yahoo, CBS, and Fox. Liriano is rated around the #60-70 SP, and roughly #240 overall player. Obviously (as Twins fans) we'll keep a close eye on him, but he could be a major steal in the 20th-24th round.
Last year he was rated in the top 80 overall players on several sites. One of the things I look at is highly-rated players that had off-years - is there still upside? Liriano fits the profile to me.
Also keep your eye on Jose Reyes, the Mets SS. He's rated around #40 overall, after being a top-5 pick the past few years. If he's healthy, he's another steal to be had in the 3rd or 4th round.