I tend to scale how many points I spend on how good of a pick I get. I spend a lot if I have one of the first 4 picks (I spent 62 points this last draft with the first overall pick). And I'll spend a few if I am in draft position 5-8. I will spend NO points if I am one of the top four teams in the league (also if I'm in the top half, but that's just me, others might spend a few just to snag an 18 year old). This will change if anyone with a higher pick goes bot as they pick randomly (even brand new teams because they won't have enough points to find a good pick).
First you need to get everyone's height and age (scouting combine). Do the group demo if there are 10 or more 18 year olds with 1 or 2 gray balls. Then scout all 18 year olds. Then interview the 18 year olds with 5 ball starting skills. If you have a middle pick, don't interview.
Sort your list by age, then potential, then desired height, then PF/min (lower is better), then grade rating/skill balls. Height is a bit more fluid depending on what you want to do. If you are looking to create a homegrown player, then it is very important. If you are looking to sell in the postdraft frenzy, it is not important at all.
Hope this helps,
TicTacShack