I'll elaborate a little more about what I feel the pros and cons are of starting early or later...
You have to be more prepared and it seperates the hardcore fan from the average fan because not only are there questions regarding where players will play and for what team but not many, if any, sites have there rankings up so you have to do them yourself with not much "expert" help (Which is what I like, anyone can grab rotoworlds rankings and go in a draft and come out fine)
- If you are in an "only" league then you might get into trouble drafting a guy that ends up getting traded or picked up (FA) before the season starts.
Starting just before the season starts:
Don't have to worry about injuries
You don't have to know much about what has been going on during the offseason because alot of the questionable stuff has been answered by this time.
- There are a million different rankings and projections out by this time and you don't even have to be very prepared for the draft, just grab a set of rankings and get after it.
- Its very hard to wait until the last day to draft..... I gotta have it now!!