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PG
1)Nash
2)Kidd
3)Billups
4)Paul
5)Deron

SG
1)Kobe
2)Wade
3)Arenas
4)Manu
5)T-Mac

SF
1)Lebron
2)Marion
3)Deng
4)Carter
5)Josh Howard

PF
1)KG
2)Dirk
3)Boozer
4)Bosh
5)Brand

C

1)Duncan
2)Howard
3)Amare
4)Camby
5)Chandler

No Yao because he turns the ball over too much and isn't a good enough rebounder, although that is the one I am most torn about, and if you don't value rebounding that high then he should go 4th above Camby and chandler who are both very similar players. He's also hurt too often, which also is a big consideration keeping him off.
No melo because he doesn't shoot well enough, all the other people I have at the three are great all around players excpet carter who edges him on being a better 3 point shooter, but better passer, and turning the ball over less.
Arenas at the 2 because he shoots the ball so often and isn't really a pure point in the way the other PG's are. I think of him more in the iverson type who I consider a 2. If you put arenas as a 1 he'd be 4th behind chauncey. Overall the 2 guard position is really weak I think, and the PF position is really stacked, especially if you consider Amare and Duncan as 4's which is reasonable.

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You say he turns the ball over too much:

Here are Yaos Numbers vs your top 5:

Howard: 3.9 TOG / 5.0 TO48
Ming: 3.6 TOG / 4.9 TO48
Amare: 2.8 TOG / 4.1 TO48
Duncan: 2.8 TOG / 4.1 TO48
Chandler 1.4 TOG / 2.4 TO48

So 4 of your top 5 Turn over the ball at comparable rates, even one that's higher.

Yao Ming is still a better scorer than anyone in your top 5 and plays at worst about the same number of minutes. He's also an excellent FT shooter. His FG% might not be greater than 55%, but he takes a lot more shots then most of the guys listed in your top 5.

I will admit, I used to hate on Yao, but to leave him out of the top 5 seems kinda rediculous. I can't imagine any GM in the league taking most of the guys in your top 5 over him.