For the NJ pick, if Harrison Barnes is available, he should be a no-brainer. Pre-season though he was a Top 3 pick and then dropped when UNC was struggling. With UNC back in rhythm since Larry Drew II left and Barnes looking ready to star in the Tournament, I could see him being a Top 3 selection again. At 6'8" with speed, range, and proving he is clutch, he should move ahead of the undersized PF Jared Sullinger and possibly even Kyrie Irving, if he doesn't play or excel in the tournament. At best, Harrison is Tracy McGrady. At worst, he is Marvin Williams. Either way, that is a better 2 or 3 than Utah has.
For the second pick, if Kendall Marshall declares, I would go with the UNC sweep. Since he came into the starting line-up, UNC has been back on track. He is at least 6'3" and 185, so he has Deron Williams size. He is a lefty, which is unique for a PG, and good at getting in the lane, sort of a combination of D-Will and Tony Parker. His outside shot is improving, but he could be a good floor leader and a steal in that 10-14 range, especially in a year or two.
If Marshall is not available, I would trade down and see if you could get two later first round picks, maybe with Phoenix who as of now would have 14 and 23. With two later first round picks, I would take some combination of Kemba Walker or Nolan Smith and Jordan Hamilton or Kyle Singler.
Kemba or Smith could be quality back-up point guards, maybe even grow into a starter like Darren Collison did. For a year they could learn under Earl Watson and then take over as the #2 behind Harris. Both are upper classmen, so they should be ready to compete. Kemba is a scoring machine, but can dish. Nolan can score, pass, and place solid man-to-man defense.
Jordan Hamilton has shined in the Texas offense that is modelled after Utah's. He should rise into the late lottery with a strong showing in the Tournament, with Texas having a good shot to get to the Sweet 16. Kyle Singler is as close to the second coming of Matt Harpring as there is. He is the toughest player in college basketball but also polished, which is rare. He is a player that should wear a Jazz uniform.