Further, separating from development - which is a different ball game entirely.
For instance, Pittsburgh for the last decade has been the worst drafting team in the league. But they were renowned for their development and were a destination spot for undrafted players because of this. They have gotten more production out of undrafted FAs than drafted players over the 10 years (or whatever, I haven't updated this figure since last summer). Their scouting process is not very strong, but the development-focused guys over the years (most have now gone) like Sullivan, Gonchar, Jacques Martin, Bill Guerin, etc. made them great for salvaging players who were - at one point - cast aside or considered just about the worst players in the league (Justin Schultz, Matt Niskanen, etc.).
Someone upthread said "whoever produced the most NHL players...NEXT!" and that's fine on a surface level and without being inside each organization, it's tough to exactly figure it out. But it's not quite as simple as that. Great scouting can be let down by poor development environment and dev strategy. Great development can salvage uneven scouting.