Here's what Pats Pulpit said:
On my board, not only did I have Torrey Smith ranked as the top receiver remaining, I had him ranked as the number three receiver above both Jon Baldwin and Leonard Hankerson, who were both taken ahead of Smith. In fact, Smith was strongly considered as a BPA prospect with the 33rd overall pick. Clearly, at this point, Smith is an excellent value pick for the Patriots (in my opinion).
I like this pick a lot. Doesn't it seem like the rich get richer? The Pats need a receiver and they get one here at good value and one that can probably play quickly. The Pats are once again having a solid draft.
For the full explanation of the pick, check out Mocking The Draft.