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Marchbank is a real chance to head to the Giants with pick six or seven, and the club has long been linked to the 192cm defender.
Click here to check out Caleb Marchbank's draft profile and watch his 2014 highlights
That could be in partnership with fellow tall Hugh Goddard, if the Giants feel they need to bolster their backline by selecting the two talls at picks six and seven.
But it could also be at the expense of Goddard, who may drop further down the draft order should the Giants not select him.
Marchbank missed the second half of this season with a knee injury, and only played two games in 2013 before suffering stress fractures in his back, meaning his sample of form is smaller than others. However, he is also in the mix for Geelong's pick 10.
The wild draft ranges of some of the top-end players is largely due to the uncertainty over the Giants' picks six and seven, and the Magpies' pick five, leaving clubs unable to settle on players despite the final deadline rapidly approaching.
In what would be something of a surprise, Nakia Cockatoo has also been linked to the Cats' pick 10, while Kyle Langford continues to be talked about as the Crows' pick 14. That could see the versatile Jayden Laverde get through to Essendon's pick 17.
Given nothing concrete has developed in the past 24 hours, we are largely sticking with our original phantom draft, which tipped Paddy McCartin to be the No.1 pick and Melbourne to select midfield pair Angus Brayshaw and Christian Petracca.
There are some tweaks at the back-end of the top 30, but that again will rely on what happens earlier in the draft. Recruiters can't recall a first round that is so up in the air so close to the draft, with many expecting several surprises.
THE LATE MAIL PHANTOM DRAFT
1 – St Kilda: Paddy McCartin (19/4/96, 193cm, 95kg, Geelong Falcons)
2 – Melbourne: Angus Brayshaw (9/1/96, 187cm, 86kg, Sandringham Dragons)
3 – Melbourne: Christian Petracca (4/1/96, 186cm, 92kg, Eastern Ranges)
4 – Greater Western Sydney: Jarrod Pickett (18/8/96, 180cm, 76kg, South Fremantle)
5 – Collingwood: Jordan De Goey (15/3/96, 187cm, 82kg, Oakleigh Chargers)
6 – Greater Western Sydney: Paul Ahern (1/8/96, 181cm, 77kg, Calder Cannons)
7 – Greater Western Sydney: Hugh Goddard (24/8/96, 195cm, 92kg, Geelong Falcons)
8 – Gold Coast: Peter Wright (8/9/96, 203cm, 102kg, Calder Cannons)
9 – Collingwood: Darcy Moore (25/1/96, 199m, 93kg, Oakleigh Chargers)
10 – Geelong: Sam Durdin (6/6/96, 198cm, 87kg, West Adelaide)
11 – West Coast: Liam Duggan (11/12/96, 183cm, 76kg, Western Jets)
12 – Richmond: Corey Ellis (9/10/96, 185cm, 76kg, Western Jets)
13 – Fremantle: Jake Lever (5/3/96, 194cm, 84kg, Calder Cannons)
14 – Adelaide: Jayden Laverde (12/4/96, 189cm, 82kg, Western Jets)
15 – Gold Coast: Nakia Cockatoo (23/10/96, 185cm, 86kg, NT Thunder)
16 – North Melbourne: Lachie Weller (23/2/96, 181cm, 77kg, Southport)
17 – Essendon: Jarrod Garlett (11/5/96, 180cm, 69kg, South Fremantle)
18 – Sydney Swans: Isaac Heeney (5/5/96, 186cm, 82kg, Cardiff)
19 – Carlton: Caleb Marchbank (7/12/96, 192cm, 85kg, Murray Bushrangers)
20 – Essendon: Touk Miller (22/2/96, 177cm, 80kg, Calder Cannons)
21 – St Kilda: Alex Neal-Bullen (9/1/96, 182cm, 77kg, Glenelg)
22 – St Kilda: Daniel McKenzie (17/5/96, 183cm, 77kg, Oakleigh Chargers)
23 – Greater Western Sydney: Kyle Langford (1/12/96, 190cm, 73kg, Northern Knights)
24 – Greater Western Sydney: Jack Steele (13/12/95, 188cm, 85kg, Belconnen)
25 – North Melbourne: Oscar McDonald (18/3/96, 196cm, 84kg, North Ballarat Rebels)
26 – Western Bulldogs: Connor Menadue (19/9/96, 188cm, 69kg, Western Jets)
27 – Western Bulldogs: Ed Vickers-Willis (28/3/96, 190cm, 82kg, Sandringham Dragons)
28 – Carlton: Tom Lamb (19/10/96, 193cm, 84kg, Dandenong Stingrays)
29 – Gold Coast: Harrison Wigg (16/10/96, 179cm, 74kg, North Adelaide)
30 – Collingwood: Connor Blakely (2/3/96, 186cm, 81kg, Swan Districts)