Here are the final settings:
League site: Yahoo!
Player selection: Live draft/keepers
Where to draft: via Yahoo
Keepers due: March 1
Draft end: ASAP
Type of draft: Snake
Roster size: 24 man major league roster
Farm size:5 minor leaguers
Categories: 5X5 (R, HR, RBI, SB,OBP; QS, SV, K, ERA, WHIP)
Roster alignment: C, 1B, 2B, 3B, SS, 3 OF, UTIL. 2 SP, 2 RP, 3 P slots, 8 BN, 3 DL(ties into major league roster size)
Waiver: 2 days waiting period; traditional priority system
Trade Deadline: Yahoo Trade Deadline
Post draft players: via Waiver Rules
Initial waiver priority: based off Draft Order; last to pick in 1st round gains #1 priority, second to last gains #2, and so on
Maximum Moves: 100
Minimum IP per week: 10
Maximum trade waiting time: 3 days
Trade review: via commish approval
Roster changes: daily transaction
Player universe: active players
Can't Cut List: As supplied by Yahoo!
Keepers: 8 Keepers per year, plus all minor leaguers. You lose the Original round the player was drafted in the next years draft. Any FA THAT WERE NEVER DRAFTED count as a last round pick. If you have 2 players from the same round you lose the next round. If a player is kept again, his round will move up. (ex. If Chase Utley was kept as a 2nd round pick last year, he will count as a 1st round keeper this year)
You can keep a max of 2 players from rounds 1-5.
You can keep a max of 2 players from rounds 6-10.
The rest of your keepers will come from rounds 11-24 and FA pickups.
THEREFORE YOU DON'T HAVE TO KEEP 2 PLAYERS FROM EACH OF 1-5 AND 6-10, BUT YOU CAN'T KEEP MORE THEN 2.
Minor League Keepers: The maximum amount of players that you can have is 5 per team unless you obtain more than 5 by trade. If you go over 5 MILB players, you will have to drop below 5 players before you can add/draft more players. Players who reach 130 AB or 50 IP can be kept until the next season when they must be brought up to your MLB roster or they will be dropped to the draft. Minor Leaguers may be promoted and demoted at will until they go over "Rookie Status". Each team will be able to fill their minor league rosters through the MILB draft that will begin after the actual league draft. You can drop players from your MILB roster or draft one of your players to make room for picks. Once the draft is over your MILB roster is set. You can add players through trade the MILB draft or through waivers when they are added by Yahoo.
Fee: $50. Pay Tobe before the season starts
Regular season winner $50