Forming Dynasty League- advice?

[mkultra]

I'm looking to start a dynasty league this year with some friends (we're resigned to reruiting some people we don't know to round out the spots). We've all done fantasy, most have done a keeper league, but none of us have dynasty experience. Is there a consolidated thread of advice for dynasty commish's? Pitfalls to avoid, etc.?

I'm also specifically looking for information on handling the draft, and how multi-year contracts are handled.

TIA...