I think in a league with only 2 active players, it's certainly worthwhile investing a decent amount in the draft. As long as you uncover a few decent players you have a pretty good chance to get one or both of them. Last year in my league, which had 8 active managers, every team got its first or second preference pick. I was luck to get the 5star/4star SG I had at the top of my board, and he ended up being a good draftee.