What do you guys feel is the best draft strategy - draft for your needs? or take best player available?

I am in a 10 team 5x5 league with a snake draft so that I pick 2, 19, 22, 39, 42, ..... etc. Originally I had planned on taking a bat at 19 and an arm at 22 after taking Ryan Howard in the first round. Some of the guys in my league aren't the most astute baseball fans and Miguel Cabrera dropped into my lap at pick 19. At pick 22 Carl Crawford was available so I took him.

After taking Crawford, my plan was to pick up a middle infielder if Jimmy Rollins or Hanley Ramirez was available and an arm with picks 39 and 42. Now it is still 10 picks away from me picking again, but looking at who is available Matt Holiday and Mark Teixeira are still on the board. Are guys like those too valuable to pass up at 39 or 42 or do I draft to my weaknesses since right now I have perhaps the best offensive lineup in my league?

Oh and to give you guys an idea of the pitching situation in the league, pitchers already drafted are: Johan Santana, Chris Carpenter, C.C. Sabathia (13th pick ), Roy Halladay, Carlos Zambrano, and Pedro Martinez (26th pick ).

My personal draft board for pitchers available then looks like this:

1) Jake Peavy - love his peripherals and k rate. ERA should drop a little this year and he pitches in a cavernous park. Probably won't have too high of a win total though given overall parity/mediocrity in NL West

2) Brandon Webb - if he stays healthy, should improve win total with better team behind him, and has solid K rate, ERA, and WHIP

3) Roy Oswalt - Win total should go up this year with a better offense behind him and maybe I should have him higher, but to be honest his declining K rates scare me

4) Francisco Rodriquez

5) Joe Nathan

This is a keeper league so I am trying to position myself to have a young core of players either signed to LTC or in their pre-arbitration years.

Obviously I am counting my chickens before they hatch, but given my offensive surplus and total lack of pitching do I take at least one arm regardless of who is available at my next two picks or if someone like Holliday who I had rated top 20-25 overall is available should I grab him?