Now because of these two factors, this draft environment becomes completely different than what most mages are used to. First off, Rare Drafting as a concept is out. Secondly, block drafting strategies are out the window too. There simply is not enough valuable cards, or single block cards to make either of these a viable option.
Beyond that, most of your general draft strategies will still apply. You want to keep most of your drafting to two colors. Draft decks of 3+ colors will require dedicated fixing in order to function consistently. Dedicated fixing can be hard to find in this format, since the majority of Magic's history has not focused on such things. Aligned colors will be easier to play, as they combine concepts more readily, and are supported by more cards in Magic's history. Enemy pairs will produce more powerful decks when constructed properly, but have seen fewer sets supporting these combinations thus far in Magic's history.
A number of old concepts will raise their heads in events like these. Banding actually becomes a playable ability, allowing it's controller to make very favorable blocks. Since this format is often ruled by small creatures, banding on a creature larger then 1/1, can be a real power piece in combat mathematics.
My personal MVP for the month of April (the last major repack month) was Wall of Spears. It's colorless casting cost makes this an ideal early pick, allowing the drafter time to read the color signals coming around. The combination of first strike, power of 2 and a relevant toughness of 3, make this a power house card that will hold the red zone amazingly well.
The ability to interact with your opponent, or their board position, is the next important consideration in drafting. There is very little good removal to be found, and what there is most often is found in red and black. Artifact and Enchantment removal are pretty easy to come by, but tend to be less relevant. This makes artifact creatures a bit of a gamble, but some can be well worth it, like with Wall of Spears detailed above. My next article on repack drafting will focus on interactive cards, and other factors for consideration.