Earlier Kyle Rodriguez told us why subjective draft grades aren't such a good idea.
Take this draft review of the Indianapolis Colts done by Pro Football Focus. The Colts had far fewer "draft points" to work with than any team in the league. From 2006-2010, they were working with less than half of "league average" in terms of total draft points.
When PFF assembles a list of "draft flops" for the Colts, notice the numbers next to players' names. They list 12 players who didn't work out, but nine of them were taken after pick No. 160. That means the Colts' "draft failures" were largely guys taken in the fifth round and later.
It's normal for teams to miss on late-round picks. The higher the starting draft position, the more should be expected from a draft.
For their efforts I give both Nate and Kyle an entirely subjective grade: A.