The details have already been discussed ad nauseam here, but you know the deal--it's likely to be either Florida high school shortstop Manny Machado or Texas high school pitcher Jameson Taillon. Personally, I bet the Pirates will pick Machado. They didn't select a pitcher in a pitcher-heavy draft with the fourth pick last year, and I'm not sure this draft should be different. Taillon is supposed to be a great talent, but there are just so many things that can go wrong when you take a pitcher second overall. The Bucs can't afford to mess up a second overall pick.
The Bucs only pick once on Day One, so much of the fun will have to wait for Day Two.
UPDATE, 4:26 PM: Most of the rumblings around the internet have the Pirates picking Taillon. I'll put up a new thread once the pick, whatever it is, is announced.
UPDATE, 5:16 PM: Buster Olney says the Pirates will pick Taillon.
UPDATE, 6:47 PM: You can watch the action, which starts at 7:00, here.
UPDATE, 7:10 PM: The Nationals pick Bryce Harper, as expected. I'll put a new thread up as soon as the Bucs pick.