Interestingly, if you go back to 2000, it gets even better. Winslow Jr. in 2004, Dallas Clark in 2003, Shockey in 2002, Heap in 2001, and Bubba Franks in 2000.
I agree, don't draft for need, and this guy isn't on my short list. But I see far too many people just parroting that 1st round TE's never work out.