The first #1 starter taken, Pedro Martinez, was selected 4th overall by Fanclub. Pedro was typical Pedro dominating the league at almost every opportunity.
With the 262nd overall pick in Round 14, Brad P chose the last #1 pitcher, Cliff Melton. Melton turned in a .733 Wpct and a solid 3.53 ERA.
Personally, I am questioning whether or not to ever again draft a pitcher in the first 8 or so rounds. The chart above lists the #1 starters in the order in which they were taken, along with the season stats from ATB XI. You should immediately see some questionable choices, myself included.
The table doesn't reflect park factors or the defense behind the pitchers and thus should not be taken at face value, however, it bears to reason many of us reached for starting pitching.