I like Banks at LT. Call me old fashioned, but I think that the need for ideal arm length and all that is more important for an offense like Cincinnati, where they put as many receivers on the field as they can. Having a stud OG and a TE next to you ready to chip goes a long way towards mitigating the lack of ideal size for your tackle. He is good at getting to the second level, and has his head on a swivel to find someone to hit. And when he gets hands on his man, I didn't see him getting backed up.
So really, I think that Banks's floor is better than what Jones gave last year. Jones could obviously be a better LT with a better guard to his right, so I wouldn't be heartbroken to pass on an OT for a top DE or DT, or even S if the coaching staff is excited for the prospect. By pouring significant resources into the OL already, I feel like the team right now has a strong offense and can afford to look to build a more suffocating defense through with their top draft picks.