Assuming Watkins is gone I would like the Lions to take Lee or Ebron. I am nervous about Lee's injury history, and looking at the effect of TEs like Jimmy Graham, Gronk, or even a young guy like Jordan Reed, I am leaning there. I know Fauria had a good year, but I doubt he becomes much more than a good red zone target. Plus, there is more than enough room for two TEs in a good offense nowadays. Pettigrew had a better year, but he is not the playmaker that Ebron could be.
If Dennard drops to 20 or more, trade up for him, otherwise wait for a CB. Similar deal with WR, if Evans or Lee somehow drop to the 20s I would like the Lions to trade up. If they don't, wait and take a WR a bit later as it is very deep this year.
My dream Scenario (other than Watkins dropping):
1. Take Ebron
2. Dennard/Evans/Lee drop a bit into the 20s and the Lions trade up OR Benjamin fro FSU drops to the 2nd rd
3. Draft the best available CB or WR depending on which position was drafted with the 2nd pick.
Later rounds: A center would be good i the value is there. An OLB too if the value is right. Otherwise best available. A lot of people stress choosing the best available in the early rounds, but I tend to think the later rounds are where that strategy has more value.