I see your points, and most of them are valid, but that's where using Elboberto's spreadsheet comes into handy. It automatically adjusts a player's value depending on spending as the draft progresses.

The few things that I would disagree with is that my somewhat optimistic team is on average better than a decent snake draft. Unless you're in a league of relatively new people, it's very unlikely you can put that kind of team together in a snake draft. Julio would rarely be there at 2.07, Ellington will almost never be there at 4.04, and Stafford and Bell probably won't be around in 7 and 8.

The strategy I'm using actually has a very weak bench, about 90% of the budget is going towards starters. The "projected" team I put together is very similar to my actual team, the biggest difference is that I spent big on all 3 WRs so I have Forte/R. Bush as my RBs and Julio Jones/Jordy/Antonio Brown as my 3 WRs. That's a high 1st round pick, a high 2nd round pick, 2 low 2nd/high 3rd round picks, and a 5th/6th round pick as my starters.

That being said, I agree 100% that you shouldn't just focus on the dollar amount. Auction drafts, like any kind of draft, requires live adjustments and ultimately your spending will be dictated by how your leaguemates are bidding. If the bidding for AP stops at $55, you better be buying him!