For a while, I didn't care who it was - Newton, Gabbert, Green, Fairley - as long as they became immediate impact players. But the more I think about it, the more Peterson seems to make sense to me. While the Bills have needs in several areas (Front 4, ILBs, RT/G, QB) the main need the Bills have is top-flight talent. They have SO little of it. While guys like Kelsey sure give it their all, no one's going to mistake them for stand-out or Pro Bowl performers. They're adequate.
Don't get me wrong, I like Dareus a lot - he's my third option at #3 (my first choice being to trade down, second being PP). But Peterson is generally regarded as the top athlete in the draft, and CB is a position of need in my opinion. Florence was a PI magnet, and McGee isn't getting any younger or healthier. I'd hate to let Florence go, have McGee get banged up, and we've got McKelvin and Corner covering on the outside. Peterson (instant starter) and McKelvin, with McGee/Corner/Florence in the slot, is much more appealing to me.
MRW's article on the money the Bills have/are commiting to OLBs who may or may not be every down players kind of clinched it for me. As much as I like Miller, I just don't see him as an every down guy, not in his first season or two, at least. And Dareus seems to have potential problems with motivation and disappearing for sequences during games, or so I've read. Plus, I don't see him being an impact player like Suh, or even McCoy (at least, where he was when he got hurt), just a very talented part of the Front Four rotation.
So if I'm CHIX, I go:
Peterson at 3.
Sheard/Reed at 34: Here the Bills get their edge rusher for less $$$ and similar situational impact to Miller. Plus insurance when/if Merriman gets hurt and Maybin gets cut. Both are fringe Round 1 talents.
Jenkins/Ballard at 68: Hopefully one of these two will still be around at this slot. Big, multi-front kind of linemen who have some explosion off the ball, and can stop the run. Big if Edwards is hurt again or Carrington doesn't pan out.
Sheppard/Greg Jones at 100: Talent upgrade in the middle of the interior, especially for the underwhelming free agents signed last year. Help for Poz, help against the run - but still not much for covering the TE. Hey, it's the fourth round!
Love/Moffit/Pinkston at 123: Help on the right side. If they move Wood to C, need twice as much as help on the right side. Both of these guys are, IMO, upgrades to the Wrotto/Rinehardts of the world. Love was, early on, a Round 1 projection.
Ahmad Black/Ziemba at 133: Possible successor to Whitner or more depth on the O-Line. I love Ziemba, but the value for Black would be awfully good at this spot and we could potentially send Donte and his contract demands packing (saving $$$ for a Fitzpatrick extension?)
Bynes/Irving/Harvey at 169: More help on the interior; if the pick at 100 doesn't pan out, or one of the FAs gets the boot (Davis, Ayodele, etc) these guys could help fill that role AND offer more depth (right now, not much behind Poz, and even he is limited to some extent). More run support, still not much for covering.
Jeron Johnson/Linnenkohl/Bair/Wujciak/Newton/Boren/Dent/Neild/Ced Thornton at 206 and 242: Just a random list of possibilities, SS, OL, DL, LBs. Any of these guys would struggle to be an immediate contributor but for ST. I like Johnson here in large part b/c of special teams and depth on the back end.
So, after all this, the Bills add: a CB, 2 ILBs, 1 OLB, 1 or 2 DE, 1 or 2 OL, 1 or 2 SS, some more depth. A defense-heavy draft, per Mr. Gailey. No, I didn't get a QB - once we got past the Second Round, I didn't think any were worth it when the Bills had so many other holes to fill. Hopefully, if these picks work out, they can cut Whitner and Florence and use some of that cash to extend Fitz for another year or two.
Of course, until Draft Day, when the Bills pick Tyron Smith ('the next Will Wolford!').