I would personally draft a QB in the 3rd round, there's enough value there potentially with guys like McCarron, Mettenberger, Boyd, Fales and Garoppolo. This is a great draft for QB's, the teams that need a QB desperately will snap up the likes of Bridgewater, Carr, Bortles, and Manziel therefore you get guys who might've been 1st round or early 2nd round picks in other years falling through the cracks.
The bengals are in a situation where they don't need someone who can come in right away, you can afford to take a guy on day 2 and give him time to develop, the defence will be even better next year with Geno and Leon Hall healthy, the receiving core is quite good and very young, and Gio Bernard will only get better. Dalton has shown he's atleast adequate, who knows maybe 4th time lucky if not then you've got a guy who's had a year to develop and learn and ready to take over