Just so we can look at what the #3 pick typically brings, here are the last ten players to be drafted third, current team in parenthesis:
2006 Jonathan Toews, F (Chicago)
2005 Jack Johnson, D (LA)
2004 Cam Barker, D (Chicago)
2003 Nathan Horton, F (Florida)
2002 Jay Bouwmeetser, D (Florida)
2001 Alexandr Svitov, F (Columbus)
2000 Marian Gaborik, F (Minnesota)
1999 Henrik Sedin, F (Vancouver)
1998 Brad Stuart, D (Calgary)
1997 Olli Jokinen, F (Florida)
In that group there are 3 current top prospects (Toews, Johnson, Barker), 3 point per game level players (Gaborik, Sedin, Jokinen), 2 top four level defensemen (Bouwmeester, Stuart), 1 .75 point per game player (Horton, who had 31 goals this year), and 1 total bust (Svitov). Things are looking bright for the Coyotes to draft a very good player this June.