Fans Guide to NFL Labor Battle - Link
"If theres a lockout, will there still be a draft next spring?
Yes, but it wont be business as usual for the teams or for the players they select. With no CBA in place, teams wont be able to sign players, and those post-draft minicamps will be non-existent. Also, in the absence of a CBA, the leagues ability to generate revenues from the new crop of big-name draftees will be limited. In other words, if you want to purchase one of those sweet new Jake Locker jerseys in the aftermath of his being drafted, youll have to buy one without his name on the back of it or wait until a new CBA is signed."
I would guess that the possibility of no football in 2011 could deter underclassmen from declaring, especially since they won't be signing contracts until the work stoppage is over.