I do agree that Sanders is off the board no later than the 2nd Browns pick. While I don't think he's a first-round pick, I do think 2nd round seems reasonable. While he doesn't have great size, he does have the ability to process defenses really well. If you can process the game, I think you can at worst work around some physical limitations. I also think good improvement in throwing mechanics can allow a QB to maximize the arm strength he has, and I wouldn't be surprised to see Sanders grow in that area under NFL tutelage.
He's far from a sure bet, but I also don't think he's a lead-pipe bust.