TML fan said:
I think a lot of people have taken the whole "1st round pick equivalent" thing to mean something other than what Burke said. I think this is because of the context of the time at which Burke said it, when the Leafs had surrendered a top 3 pick.
Given Tyler Bozak's production and his NHL service to date, I think we'd all be pretty happy if the Leafs picked him say, 24th in the draft. Considering how many first round picks don't even make the NHL, and the likelihood of that decreasing in every subsequent round, I'd say Bozak is someone who would have likely been picked in the first round had he been drafted.
I think, though, that's only true if you're looking at what Burke said with the benefit of hindsight as opposed to taking what he said when he said it. While there's an extent to which you should be happy if any drafted prospect turns into a useful NHL player, regardless of where he's drafted if what we're seeing from him is Bozak's ceiling then I don't think I would be happy with drafting someone with that kind of ceiling in the first round. When you call someone the equivalent of a 1st rounder before we've seen them you're saying that you're adding someone comparable to a 1st round prospect.
It's not saying "He has the chance to be a decent NHL player and, in the end, isn't that an ok result from a first round pick?" mainly because that's no more true of a 1st rounder than it is a 2nd or 3rd.