To the OP, yes and no.
Yes, Laurinaitis is dropping based on the hype machine converging with the reality machine. The hype is that an ILB is a money position for TV crews, as they make the plays, they lead like a QB on defense, they hit, they flow, they stuff at the goal line, they stop 3rd down runs up the middle, etc. That's priceless stuff to a TV annoucning crew who is always calling the guys name, so any good ILB/MLB is going to get overhyped. Plus, let's face it, there are fewer made-for-TV stories as good as Laurinaitis ... a big, strong, fast hulking manchild who is a white, pretty boy, son of a famous nutso wrestler, well documented leader, and both the face and heart of a perennial glamour program like Ohio State ... and who turned down certain riches in the NFL to return for a shot at the National Title. So for this guy ... the hype machine was always working overtime.
The reality is that in the NFL there are very few ILB's/MLB's that are difference makers. Sure, they make a ton of tackles, but in the NFL everyone is a quick read, a solid tackler, and an exceptional run-stuffer. If they aren't then they simply don't make the roster in the NFL without some real extroidinary athletic talent. Someone like Channing Crowder is the exceptions because he's not a good read and he doesn't stuff the run in the hole ... but his exceptional pursuit skills, size, speed, ability to shed, and relentlessness allows him to be mediocre. In the NFL, it is the edge rushers that are the difference makers, and those guys are always OLB's and DE's, and if you get one that is even a slight improvement over what you had last year then you are very likely to see a major improvement in your defense. Those edge rushers are rarer and faaaaaaaaaaar more of a factor than an ILB/MLB. The reality is that guys like Ray Lewis or possibly Brian Urlacher just aren't easy to find. They are the few real difference makers at a position that rarely produces them.
Laurinaitis is a guy who is a very solid player with exceptional leadership, size, pursuit, and read, but he isn't a forced fumble machine or an intereption magnet. If he lives up to his potential, he'll be a good player, but he isn't the difference between a good defense and a great defense. Looking at the defensive player of the year candidates every year, and the highest paid defenders, it's clear that ILB/MLB just isn't a high impact position compared to OLB/DE ... even though the ILB/MLB tends to lead the team in tackles.
So yeah, Mauluga and Laurenaitis aren't going to be top 10 picks, and people will percieve that they "slid" down the draft boards late in the process ... but the reality is that the hype machine over-rated their positions.
Regarding Dan Connor, he was fast, but not a great athlete and not really special as an OLB. He was always light and while you can get away with that against skinny developing college kids, in the NFL you need a mountain of muscle to deal with those men, and shedding those blocks becomes much harder and much more important. Connor was always lacking in that regard, and IMHO, that's why he slid despite being a good player and prospect. Mauluga and Laurinaitis are bigger more physical players and will not slide to the 3rd round, but don't be shocked if neither is called in the top 15 picks either, because in the first round every team is looking for the next Demarcus Ware, not the next Zach Thomas.
