To be honest I think I think that Fluker would be a significant upgrade over Giacomini. By next SEPT he'll be 28 years old and he's at best a C+ player. Fluker's ceiling would be much higher. We might take a step back this year, but looking at the long term it would be a big upgrade.
I don't think the gap between Smith and anyone we draft won't be significant. Infact I thought Smith played pretty darm well as a 2nd year player. I think he experience going into this offseason will make a drafted player edge marginal at best.
Where I think this exercise breaks down is comparing Tate- vs Hopkins/Allen. I really want Hopkins, but I with WR's this comparision game doesn't work. Seattle uses a lot of different WR sets. You might see Tate and Rice, or Tate, Rice, Baldwin, Or Baldwin and RIce. It's much more fluid than say what we at the LBing Corps or Secondary. So I think the real question is
Does Hopkins/Allen present a significan upgrade over -- Charly Martin, Jermaine Kearse, Phil Bates.. That answer should be a resounding YES!!! So in that case I'd definately take a WR in the first few rounds as it would improve our depth significantly and would allow him to works his way into the rotation and perhaps contribute on special Teams.