For me, the jury is still out on Telesco. As far as contracts dolled out he's had some hits (Dunlap, Flowers) and misses (Butler, Brown). And while I agree that we should not call Telesco's draft record spotty, I also wouldn't call it fantastic.
Fluker was 11th overall pick in the draft and has been the 40th and 56th best tackle in his first 2 years per PFF. There has even been talk of moving him to guard, so thus far he has not provided the value you would hope at that pick.
Te'o has been just decent so far. I wouldn't say he's provided surplus value as to where he was drafted, particularly considering Telesco gave up a 4th round pick just to move up 7 slots to get him. Also he has had some injury issues.
Keenan Allen and Jason Verrett have certainly been great picks although Verrett did have an injury question mark when drafted and that came back to bite him. Don't get me wrong though, still appears to be a good pick.
Watt had a fine first year, but I'd it's definitely still TBD with him.
Attaochu only played 182 snaps and had a slight negative grade per PFF. I'm optimistic about his potential with a healthy season and more snaps, but at this point he's not anything for a GM to brag about. Again Telesco traded a 4th round pick to move up just 7 slots to get Attaochu so he needs to provide that excess value to be worth it.
I think draft picks are mostly luck anyway and (bad) GMs are overconfident in their ability to identify talent relative to the rest of the league. So really I think the above players value ultimately is mostly a factor of luck and variance rather than an indictment or tribute to his draft picking ability. However, one thing that is firmly in the control of the GM is trading picks. The fact that Telesco traded 4th round picks to move up 7 slots two years in a row is really concerning to me. Smart teams like the Patriots tend to trade down to acquire more picks and understand that the value of 7 slots is somewhat negligible (particularly moving from 57 to 50). See Harvard Sports Analysis draft pick value chart.
As for our defense, we were 24th in DVOA, so I wouldn't call it very good by any stretch, but certainly better than the year before.