Toronto does not have a 2nd round pick. They moved it to the Heat if my memory is correct. There are teams in the second round who have picks that could be bought or traded for. With that said, let's look at some of the potential second round players who could be available:
Derrick Caracter, PF/C: Huge, long arms, stronger than Hoffa , strong rebounder and has offensive skills that have been compared to Antoine Walker. Has struggled with weight and as a result his mobility is not great. In the second round only a few people have the upside he has and the Raptors would be hard pressed to find someone of his abilities at such a small yearly price tag.
Eric Bledsoe, PG: Fast, agile, explosive, strong, can take hits going to the bucket, can throw it down, can finish with both hands, has the physical tools to be a strong defender (ie: long arms, fast lateral movement). Has struggled with turnovers and is not a great jump shooter. Kind of sounds like a poor man's Rajon Rondo in my opinion.
Willie Warren, PG/SG: Immensely talented combo guard who can create for himself and others with ease. Can knock down shots from anywhere on the floor. Strong going to the rim and knows how to draw fouls. Good passer and good at finding the open man. Holds the ball too long and takes some bad shots at times. Turnover prone and seems to be studying the Toronto Raptors defense instructional videos.
Pablo Aguilar, PF: A Spaniard being compared to Jorge Garbajosa. Glue guy who does nothing outstanding but does all the little things needed to win games. Can hit set shots from anywhere on the floor. Has 3pt range. Great IQ. Has a league leading 3:1 assist/turnover ratio. Smart and effective on defense. Average rebounder.
Craig Brackins, PF/C: Talented offensive player. Good at scoring around the basket and has a face up game. A good rebounder. Not super athletic and his defense needs a lot of work although he has the physical tools to be a strong defender.