I think we would definitely still have drafted Watts because it was clear from the beginning that he had to potential to be a star... just as he is now starting to reveal.
Yes, we quite possibly could have (and some might argue, should have) kept Junior.
Scully would have been drafted as he and Trengove were streets ahead of the rest; and WYL, to say that Scully was a mistake is nonsense... no-one had any idea what would unfold there and at the time he was the obvious 1 or 2 choice. As R&BB said, hindsight is a wonderful thing.
We got Tapscott, so which pick was used is neither here nor there.
Possibly they might have gone with Darling over Cook (why am I thinking of Black Adder at this point?).
The other one I think may have been overlooked at draft time purely for reasons of physique, might have been the Gys.. but no idea who would have been picked up in his place.
Bailey had the unenviable task of essentially trying to rebuild the list from the ground up... overall, his legacy has been the makings of a team that WILL amount to something. And we should never forget the sacrifices (ethical and personal) that he made in order to achieve that; no matter what we might think of his coaching abilities, he put his own career on the line to help set our club up for a better future.