No.
Even before the injuries, he was not a clear cut first pick. There were still a lot of people who rays Wiggins and Parker above him. He's an extremely raw prospect and (to me) was always a high risk at one. If you could on top of that guarantee that he's going to have a Bynum like career... He'll yes, I'd pass.
In past weak drafts you'd take the gamble. In a draft with this much depth though there is just tooc much talent available. Guys like Smart, Randle, Exum and Vonleh have future all star potential, yet all are projected to go out of the top 3. That's a ton of talent, just not worth paying up on such a high risk player.
If you aren't certain that his career will be injury plagued and his injury report more or less plays out ok, then yes id take a gamble.