Complete BS.
The top 5 pick is going to cost a few million in cap space easy, regardless of signing bonus. The four later picks themselves will probably cost no more than 2-3 million of cap space total.
Contract value drops dramatically after the top 10 picks. A top 3-4 pick is gonna cost you at least 50 million plus about 25 mil in guaranteed money. Based off the 2008 rookie contracts, a pick in the mid 20's will run you 5 years, about 10-11 million, with 6-8 guaranteed. As for the 3 second rounders? James Hardy signed a 4 year deal last year worth a total of about 2.5 million, and probably a 1 mil signing bonus.
So what makes more sense? a top 3-4 pick for 50+ mil and 25 guaranteed, or 4 late first early second round picks that will run you 20 million total value with maybe 10-12 million guaranteed, tops.