I think the "best player available" wisdom holds true, but what constitutes the "best player" is a jumble of factors that will differ from person to person.
For me, I think you have to take floor and ceiling into consideration, and you also have to consider the opportunity that a player you draft will have to actually earn time, develop, and carve out a role on your team.
Generally speaking, I'm more willing to consider prospects with high bust potential in the middle to late 1st round than I am in the lottery.
If you're picking top 10, I think you need to make that pick count. Can't afford to use it on a completely raw player with no sure-fire NBA level skills, unless the potential reward there is so overwhelming that it's worth it, or all the other prospects in the same range are guaranteed to be no better than role players.
Later on the in the draft, I'm OK with risks because the chances of finding good players there is much lower anyway.
In the second round, I say take whoever you think has a skillset that could be useful at the NBA level in some context.