It's obviously too early to put official grades in, as it'll be two or three years until we know if a player has panned out or not, but there can be things that can be graded on immediately following the draft, such as value and need.
Jeremy Lamb, SG, UCONN, Pick 12
Value Grade: B+
Need Grade: A-
Overall Grade: A-
This was a great pick. Since Kevin Martin is likely to be traded by the deadline, possibly sooner, it made a lot of sense to take Lamb. He has good upside while already being ready to contribute. He's a natural scorer who can create his own shot, and thrives at finishing in the lane. His handles need some work, but they aren't bad, by any means. He has solid two-way potential with his athletic frame and length. Could be a potential All-Star if everything works out for him.
Royce White, F, Iowa State, Pick 16
Value Grade: A
Need Grade: C
Overall Grade: B
This could potentially be one of the steals of the draft in a few years. On talent alone, White is a top 7, maybe even top 5 pick. He's 6'8" 260, but with the skills of a point-forward. He's an excellent passer who thrives at taking bigger, less mobile forwards off the dribble. While he may never be a good defender, he could potentially be a huge match-up problem at the 4. His handles are incredible for someone his size, and that allows him to create so many shots for him and others. White could be a Hedo Turkoglu-Boris Diaw hybrid if he pans out, maybe even more.
Terrence Jones, PF, Kentucky, Pick 18
Value Grade: A-
Need Grade: C-
Overall Grade: B-
This was another great get, as Jones is widely considered to be a top 10 talent. He doesn't quite have the offensive upside that Lamb and White have, but his defensive potential is much better than theirs. He's an explosive player at 6'9" 250, and could become more than just a decent offensive player. He can finish in traffic with his strength, and has an improving shot. I don't think he'll ever be able to shoot efficiently from 3, but he could become a good mid-range shooter. If he pans out, he could be a Josh Smith type of player.
Overall, I give this draft a B. We got great value with each pick, especially the last two. Yes, we now have a massive logjam at the 4, but I'm sure that will be addressed through trades. All three of these players have high ceilings, so even though we didn't end up with the other-worldly talented Andre Drummond, we still acquired three players who have All-Star ceilings.
At this point, it's tough to say if we'll keep all three of these guys, but I think we will. Morey and the rest of the FO have already hinted that the plan is to keep all three, so I bet that we do. I know quite a few Rockets fans aren't pleased with this draft, but once trades are made, it's going to look a lot better.