According to Matt Maiocco's Draft Blog, the 49ers do not seem to be as high on USC WR Dwayne Jarrett as most Trojan fans. The 49ers could have selected Jarrett with their second round pick but instead decided to trade it (along with a fouth rounder) to the Colts for their 2008 first round pick.

From Matt Maiocco's blog:
The 49ers -- like so many other teams -- were convinced that Jarrett just doesn't have the speed to create separation against NFL cornerbacks.

Nolan said "We're still looking, I believe there are still some good players on the board at that position, as well as some others."