I agree, the club still gets priority if they choose, could also work the other way around, and if a kid isn't rated as high, and having to still grab him with a 3rd rounder, even though he may be rated a 5th round selection, you can now pick one up if clubs don't rate them nominate them.
We got a good run with the priority system before it changed, grabbing both Farren Ray & Tommy Williams with picks 4 & 6 rather than having to wait till the end of the first round, so we can't complain too much!