I'm not going to get into the Cooks debate other than to say that he's a damned fine receiver, capable of 1000 yards year after year - but I wouldn't pay him that kind of money, because I prefer BB's method of team-building. You have to be a Randy Moss/Julio Jones/Calvin Johnson-like beast to command what top WRs are getting today, in my opinion, because the rest of that pack simply aren't THAT much better than those available at a lower tier.
My opinion.
As far as the Pats go, the ??????? is obviously Gordon, and it's too bad that he's such a dilemma, because if he wasn't, if you could reasonably count on Gordon-Edelman-Dorsett-Thomas(some other vet, some rookie), that's way more than okay. You've got two potential 1,000-yard receivers who play different and complimentary games at the top, a burner with a fantastic catch rate at #3. There are a couple of teams, sure - like the Browns - who can boast a better WR corps, but not that many. And none of them have Tom Brady, Josh McDaniel, that running back trio and a top-5 OL to go along with it.
If Gordon could be counted on, the Pats should take be looking at WR in the draft as a developmental, not immediate need problem.
As an aside, regarding TEs, I played around with FANSPEAK yesterday (I like to try out the new boards that come on - used PFF). I got Hockensen in the 1st, Fant in the 2nd, McGary in the 2nd, Mack Wilson in the 3rd, then had a choice between Amani Hooker and Taylor Rapp...and even though I think Rapp is better, I took Hooker, just so Iowa could be the new Rutgers.
I find that I like PFF now, lol.