I am moving from deep sleeper profile to bust alerts for the coming year. Let me start out by saying I do not think McCaffrey is a bad player, nor do I think he is unproductive in general. What I am saying is he is being drafted at 17th overall (RB12), which is completely insane. Michael Thomas is going after him. AJ Green is going after him. Mike Evans is going after him (almost a whole round actually).
Why? In PPR, I kind of get it. He had 80 receptions for 651 yards in addition to his 435 rushing yards. However, now with CJ Anderson in the mix, I think that was his ceiling. Most importantly, I think to take him early (like, second round early) is a significant mistake.
Let me put it like this. Let's say, hypothetically, there is no change in production at all. In theory, Cam doesn't run the ball more, McCaffrey doesn't have a sophomore slump, Anderson doesn't put a dent in the production, etc. In both seasons Thomas has been in the league, he has over 1,100 yards, already more than McCaffrey. Evans has over 1,000 receiving yards since he entered the league 4 years ago.
What do you think is going to happen? I don't think McCaffrey is going to have over 800 TOTAL yards this season. I think we are going to see Anderson get the rock a lot more on the run plays, and McCaffrey will be the Giovani Bernard of this duo (who isn't bad if you get him in PPR, 122 overall). Don't fall for him. It is, indeed, a trap.

My bet: 800 total yards, 6 TDs.
Note: This is about as well as Giovani Bernard did last season.