If we're going that route, why not just combine the waiver draft and the milb draft?
Advantages:
- One draft instead of two with a lot more interesting talent
- rather than picking freshly drafted dudes, gives them some time to accumulate data so that owners can make a more informed decision
- presents an interesting dilemma between going after that prospect you really want or grabbing a nice relief arm that would help you right away
- eliminates largely arbitrary debates on who should be eligible for which draft
- likely speeds up the draft since there will likely be more owner interest and investment.
Disadvantages:
- if you really love drafting, I suppose losing a draft is a downer
- if you feel like you've got the inside edge on a new draftee, you have to wait for half a year where he might get noticed by more people.
I just feel like this will make things a bit more streamlined.