There is no question that I would have preferred to get a second round pick.
Yet, keep in mind, we (reportedly) are getting a third round pick for a guy who only has one year left on his contract. If he had more years left, we probably would have had more leverage.
There also is the issue of supply and demand. There are better RBs who also are reportedly available for a third.
Finally, I have got to believe that there are a lot of teams who have noticed what many on this board have seen about TH. Although he is a gutsy guy, he cannot block at all. In fact, I think it has less to do with an inability to block as opposed to the willingness to do what it takes to pick up blitzing LBs.
In any event, we at least have a third for someone who was never going to play for the Bills this year. Moreover, as others have pointed out, the reason why we were able to draft TH in the second round was because TD had the forsight to not take the OT that Tampa chose (whose name esapes me) and instead waited to pick up Nate Clements and received an extra second round pick for trading down.