I think if you look at the somewhat recent history, you'd come up on top more often than not taking #1, instead of #2 and #4.
Who would you rather take:
2012: Anthony Davis or MKG and Waiters
2011: Kyrie Irving or Derrick Williams and Tristan Thompson
2010: John Wall or Evan Turner and Wesley Johnson
2009: Blake Griffin or Thabeet and Tyreke Evans
2008: Derrick Rose or Michael Beasley and Russell Westbrook
2007: Greg Oden or Kevin Durant and Mike Conley
2006: Andrea Bargnani or LaMarcus Aldridge and Tyrus Thomas
2005: Andrew Bogut or Marvin Williams and Chris Paul
2004: Dwight Howard or Emeka Okafor and Shaun Livingston
2003: LeBron James or Darko Milicic and Chris Bosh
2002: Yao Ming or Jay Williams and Drew Gooden
*And for fun, to laugh at the pain: '97: Duncan or Billups and Mercer?
The majority of the time, I think we'd all rather have #1. Unless you're counting on 100% accuracy from Danny to be able to land the next 2 best players in the draft at 2 and 4 (the conversation does get more interesting if you say would you rather have Anthony Davis #1 or Lillard and Drummond? Blake Griffin or Harden and Curry?), but I would heavily bet against that 100% accuracy ever happening, plus you're also counting on the GM drafting ahead of you to blow it, and/or some career ending injuries to the guys you didn't get to draft while your guys have perfect health.
Without the actual stats/analysis, I'd disagree with the people saying more chances to land a stud at #2 and #4. Just throwing out some numbers, but I imagine the numbers go something like this:
Chance of landing a perennial All-NBA player:
#1: 50%
#2-5: 20%
#6-10: 10%
So even if you had #2 and #4, that's a 40% chance of landing 1 stud or a 4% chance of landing 2 studs. I'd rather go with the 50% odds of landing 1 stud. Of course if you go in with different assumptions, then it might cause me to change my answer, but this is how I see it currently.