http://www.kansascity.com/sports/chiefs/story/1153146.htmlThe Last 10 #3 picks:
2008: Matt Ryan, Boston College, QB, Atlanta
Jury is still out but had an outstanding rookie season
2007:Joe Thomas, Wisconsin, OT, Cleveland
Selected to 2008-09 Pro Bowls. Pretty solid start.
2006:Vince Young, Texas, QB, Tennessee
Injuries, emotional issues after great first year. Jury is still out.
2005: Braylon Edwards, Michigan, WR, Cleveland
Started out hurt, then blossomed, then struggled. Again.....Jury is still out.
2004: Larry Fitzgerald, Pittsburgh, WR, Arizona
Regarded as one of NFL’s top receivers. Jackpot!
2003: Andre Johnson, Miami, WR, Houston
League-leading 1,575 receiving yards last year. Jackpot!
2002: Joey Harrington, Oregon, QB, Detroit
Didn’t live up to high expectations. Bust!
2001: Gerard Warren, Florida, DT, Cleveland
Didn’t give Browns the help they needed. Bust!
2000: Chris Samuels, Alabama, OT, Washington
Six-time Pro Bowl selection. Jackpot!
1999: Akili Smith, Oregon, QB, Cincinnati
Lesson: Don’t draft Oregon quarterbacks. Bust.
So that's three outstanding picks, four "wait and see" situations and three busts. I could very easily see the Chiefs trading out of the #3 spot to the middle of the First Round (maybe with Denver) and taking a pass rushing DE. Throw in Pick #48 and it would be a sweet deal.