Could we the best landing spot for UDFAs again? Should we covet late round picks?

Very true that we need to hit on our higher draft picks. There is no replacing that.

But to tune the bottom of the roster (or find the occasion diamond in the rough like Pierre Thomas or Lance Moore) I think it's worth grabbing a ton of these guys to see how they develop for longer than mini camp and fringe roles in training camp. We have an entire bottom of the roster we can turn over without much loss in talent. The ones that have been here as career special teamers and practice squad players aren't worth caring over because we've seen what they are and they aren't contributors. So why not flush that whole group and grab a whole new group to see if any grow into anything. Really spend some time coaching these guys and give them a real chance to catch on. If we can find a RB2, TE2 or WR3 on a UDFA contract we'd be setting ourselves up for the next few years. It'll be up to the coaches to do those evaluations and maybe pick up some other players after roster cut downs.
that was 15 years ago, and if you see the guys we typically pick up in the UDFA market its just camp bodies to spell the starters, its not something a team can rely on even if you luck up and a guy becomes a contributor on your team its not a road map on building a team.