The second day of the draft gets underway at noon. This is where the fun really begins. I'll be around for the first hour or so at least and will post new threads as needed.
There's no real point in speculating on who exactly the Pirates will pick, but I'd expect more high-upside gambles, just like in day two last year. I think Bucco Fans is right that we shouldn't expect too many of the Bucs' late-round draftees to actually sign--there are already about a zillion interesting guys already in the system who haven't yet played in a full-season league and will need to play at State College and in rookie ball. There isn't much of an organizational need for warm bodies the way there was in, say, 2008. So I think the Pirates will go for a bunch of kamikaze tough-sign picks and concentrate on signing a handful of them.
UPDATE 12:14 PM: The Pirates have selected Stetson Allie in the second round. Nice--another high upside arm, this time in a spot where I don't mind the Bucs taking one. Here's some video. He'll require a serious bonus but, as someone pointed out in the comments, that's not necessarily a problem because the Pirates can get the pick back in a deep draft next year if they can't meet his demands. He's committed to UNC. He has, by all accounts, a fantastic fastball. He also has power breaking stuff. The issues for him will be control and, if the Bucs want him to be a starter, developing a changeup. A lot of people see him as a closer down the line, but this isn't a Danny Moskos-type pick--as a flamethrowing teenager, Allie has plenty of upside. MLB Bonus Baby ranked him the 22nd-best prospect in the draft.