No problems with your thought process. I think you need to be drafting the best players available at this point. As you get further in the draft, I would start worrying about team depth.
As for Bautista, my only concern is his wrist injury.
Agreed although the points system greatly benefits a player of Bautista's skill set. He should be at least a top 10 player if he stays healthy.
So there was a run of pitchers early in round 3. I grabbed Justin Upton with the 22nd pick. Also in play were Pedoria, Wright, Beltre, A-Gon, Holliday, and Adam Jones. I think I got the BPA, but again I exhausted one of the top teams early. Toronto was ranked 2nd, Atlanta was 3rd. Upton also gets a slight bump since he'll have dual corner OF eligibility after 10 games.
After Upton, the picks went Wright, Hamels, Pedroia, and Holliday. I called an audible and took Ian Kinsler at 4.27. Kinsler isn't anything too special in this format, but he still has top 20 upside. I wanted Beltre more, but figured 3B would be way easier to fill than 2B, which was about to fall off a cliff in terms of depth. A-Gon was #1 on my want list, but passed since there will be a lot of opportunities to grab another 1B in the middle rounds from guys like Davis, Morse, Hosmer, AuShizz, etc.
So that gives me:
1B Albert Pujols
RF Jose Bautista
RF(LF) Justin Upton
2B Ian Kinsler
Am tentatively planning to grab a pitcher when it comes back to me. Bumgarner and Sabathia top my wish list.