There are definitely a lot of people who put high emphasis on intangibles, the main ones being work ethic, intelligence, and leadership. Certainly those are great differentiators between like talents.
College players are more likely to be stay true to their potential than high schoolers, so if you need talent to get to the bigs sooner rather than later, I would focus on college players.
I would pay attention to stats to a certain extent, especially if you have feeder leagues.
Personally, as I get deeper into the talent pool, I tend to look for players who don't have a huge gap in one area. For example, you'll see players who have like 40-40-40-40-2 or something like that in their batting ratings or potential. I don't mind if it's power, but I don't want players who are absolutely strikeout machines or hopeless at taking walks.
Pitchers, I tend to look for multiple pitches. You need at least three good pitches to make an impact in the bigs. There are a million RPs out there, and can generally be found easily and cheaply, so when drafting, I tend to draft heavily SP, like I will draft a low potential guy with three pitches over a slightly higher guy that projects to be a RP.
Just a few thoughts from me.
Caveat: I don't exactly have a stellar track record when it comes to winning OOTP championships. 