I admit I'm an odd duck, but I love Draft Day. I like having extra picks.
Trying to be more rational about it: KP and his team are great at the draft b/c they are able to do a lot of homework, especially on the psychological/mental side. Can't really do that with established players, though the longer they go the more they'll be able to build up a dossier on everyone in the league.
Culture's a big deal for them. I can see them not trading for Sean Williams, even though I (like most) may say something to the effect of "who cares who our 14th man is and what he does or how he acts"? But for KP--if you're not sure on someone, and you're unable to put them through your own battery of interviews and tests, it may not be worth the risk of trading, say, Travis or Batum or Rudy (people who meld well w/our team's culture) for someone that you don't have a good handle on, even if they're a great player.