For online drafts, I set up a massive spreadsheet with my overall rankings, the Y! rankings and ESPN rankings (so I can see what most of my opponents are watching), projections of players sorted by position and then tier'd, and an area to total my projected stats for my team.
They are all linked and are all based on if/then/else formulas so that when I delete the number in my overall rankings it removes them from all the rankings and projections. When I select a person I highlight them and then cut/paste values their projection into my team total area. When someone else selects, I simply delete the number and that player goes away.
This way I can easily see who's left in my rankings, Y! rankings and ESPN rankings, as well as look at who's left in my tiers by position. This works great as long as I stay away from the Miller Lite before the 7th round. If I can hold off until then, I'm fine. If not I get confused with my spreadsheet around round 15 and have to abort and draft the rest of way based strictly on my pre-rankings list.