Given the way skills affect salary, he could definitely still have some holes.
For example, if he's listed as an SG, then he could possibly have 1 passing, and possibly weak HA/DR. That would certainly adversely affect his value.
If he's listed as a PG, then it's possible he get stuck with lower JS/JR/OD.
Then of course, the inside skills are important, yet not reflected in player salary. The difference between 1 IS/1ID and 5 IS/5ID is huge. Then there's rebounding, which contributes to salary on all positions, yet probably isn't valued on the TL.
Still, chances are that your draftee will be solid, but there's a big difference between a draftee worth 300K and 1 million.