We may draft a CB in RD 1, if a really good one (Leon Hall) falls in our laps. That would potentially enable a move of Anthony Henry to FS, and you can never have enough quality CBs.
The way I see it, we have a great deal of potential with Mr. Watkins. However, I think we need to provide more of a security blanket (think veteran) in the short term for both Roy Williams and the coaching staff. I'm guessing that BP & Co were thinking this when they brought Tony Parrish in.
So, I think the more likely scenario is to go get a veteran FS in FA (if one is available that won't break the bank). This provides the team with the most flexibility. We wouldn't have to move Henry to FS.
In either case, whether we pick up a veteran FS in FA, or move Henry to FS, it provides a security blanket for Roy and the staff, and gives Mr. Watkins a mentor to help polish his skills.
Picking a FS high in the draft provides none of these benefits.
I believe that the operative term echoing in the minds of our drafting committee for Round 1 in April will be "pressure player."