Lawrence Phillips at #2 is a little overblown because he came into the NFL as a huge risk, and didn't really surprise anyone with his talent or his demons, having a combination of both.
Jerry Tagge in the Top 10 is a reach. If you have to go all the way back to 1971, you'll find tons of serviceable college quarterbacks from the last 40 years who simply didn't translate into the pros. Tagge was coming off a national championship team, but I don't recall any Tagge hype, and I was a huge Tagge fan at the time. Go back to the 2011 draft and you'll find three First Round quarterbacks the equal of Jerry Tagge: Jake Locker, Blaine Gabbert and Christian Ponder. Of the Top 20 Career Passing leaders in NCAA history, only Phillip Rivers has had an envialbe NFL career. Case Keenum? Landry Jones? Graham Harrell?
The majority of Heisman winners turn out to be busts, too.
As I recall, many considered Dave Rimington a major bust; the surest bet you could have made in the 1982 draft, the most heralded offensive lineman of his day, but not the pass blocker the NFL needed and out of the league after 6 seasons.