ESPN has a free (!) and pretty awesome piece up right now: an All-Time Michigan football fantasy draft.
There were five participants, two of whom were Michigan players: former RB Chris Howard (leading rusher on NC '97 team), former TE Bennie Joppru (All-American TE), Tom VH, Chantel, and Rothstein.
Here's how the first three rounds went:
Round 1: QB Tom Brady, CB Charles Woodson, RB Tom Harmon, OT Jake Long, TE Ron Kramer. Round 2: OG Steve Hutchinson, WR Desmond Howard, WR Braylon Edwards, WR Anthony Carter, RB Tyrone Wheatley. Round 3: DL Lamarr Woodley, RB Anthony Thomas, LB Erick Anderson, OT Dan Dierdorf, CB Ty Law
I think players out-did the writers, as I would take Team Howard first, and Team Joppru second, although I am mystified that anyone would take Tom Brady over Woodson...Brady just wasn't that great in college.