I think the Pacers should adopt a wait and see type approach and simply select the best player availiable at #17, much like they did last year with Danny Granger. Someone like Carney, Brewer, or Cedric Simmons could fall, and the Pacers could snatch such a guy up. Otherwise, the point guard spot looks like the place to go for best availiable player. I could see the Pacers taking Rondo or Farmar, but they would then need to trade away one or two of the points we currently have.
I'm not too impressed with any of the big men that are projected as being availiable around #17 (unless the aforementioned Simmons falls). Alexander Johnson seems like another workout warrior who won't put it together in the NBA, and Hilton Armstrong was not that impressive at UConn. The point guards seem to be the best availiable guys to me, so I would not be surprised to see the Pacers go that way.