I say no. Here's why:
Nedney may be getting long in the tooth and shorter on his kick-offs, so some have speculated that perhaps the club should use a late-round pick on a PK. While competition might be appropriate for Nedney in the upcoming training camp, it seems to be much wiser to use the FA channel to acquire a PK.
The NFL official website currently lists 36 "active" PK's. Only 5 out of these 36 (14%) were acquired as draft picks by their current team. They are:
Sebastian Janikowski - Round 1 by Oakland
Jason Hanson - Round 2 in 1992 by DET (56th overall)
Stephen Gostkowski - Round 4 in 2006 by NE (118th overall)
David Buehler - Round 5 in 2009 by DAL (172nd over all, KO only, no PK)
Mason Crosby - Round 6 in 2007 by GB
There are other drafted PK's who are still active in the NFL, but none are with the team that originally drafted them.
Yes, even Super Bowl hero, Garrett Hartley, was acquired as a FA by NO.
Conclusion: FA is the place to find PK competition. Drafting a PK would seem to be a wasted pick, since the Niners are not in a position to give 2 of 53 roster spots to PK's (one for KO and one for the true PK).
[ Edited by jimbagg on Feb 8, 2010 at 2:02 PM ]