For those who want to trade down, which I also do by the way, here are some interesting stats.
Hall of Fame by Draft Round Since 1980 Draft
Round 1 (first third)---- 23
Round 1 (Second Third)--- 6
Round 1 (Third Third)---- 3
Round Two (First Half)--- 6
Round Two (Second half)-- 3
Round 3 --- 3
Round 4 --- 2
Round 5 --- 0
Round 6 --- 0
Round 7 --- 1
What kind of metric is the Pro Bowl though? That's fan voting, usually based on popularity and not on performance.
To Phil's point - I wouldn't be surprised if that were the case. It seems that teams didn't dedicate attention and resources to the draft in the past the way they do now, which would allow some diamonds in the rough in later rounds. Now, it's unusual for guys that are 'consensus' top guys not to do well.