I'm just going to use Gates, because he's the consensus best receiving TE. Not a great blocker, so that hurts his value. But bear with me.
Gates, in 2010, was more valuable than every receiver in the NFL (
according to DYAR) other than Brandon Lloyd and Mike Wallace. He did this in 12 games. Clearly if there was any skilled player worth two high picks (including a first rounder) based only on last year's production, it's Gates.