Love the new auction feature. I'm already set with a keeper league (already drafting) and an ongoing roto snake I run, but I'll definitely be joining an auction draft this year. Only did it once a few years ago with a slow online draft but it was a blast. A lot different then snake drafts with a totally different drafting strategy.
I tried out a mock just to check out the interface, and I liked it. I did hang up once, where I couldn't do anything other then manage my queue, and I couldn't bid at all. I closed out the interface and relaunched and I was OK. Another time I couldn't submit the guy I had selected, so I clicked off and back on and was fine. Otherwise it seems to work well, and is fairly easy to use.
At a minimum of 30 seconds per player bid, that means a 252 player league (21x12) would take 2 hours just to start, not counting up to 30 seconds per submission. A bid with less then 10 seconds bumps the countdown back to 10. I don't see an auction taking less then at least 3 hours, though I guess at the end it may speed up as people run out of money. I don't see any reasonable way to speed it up, maybe multiple submissions.
The mock itself was goofy in that someone bid like $175 for Pujols at the start, and that set a weird tone, and of course mockers dropped out so you didn't really have a valid auction. Still I'll do a few more mocks as I work out the bidding strategy.
I'm sure a face to face auction is best, and slow online second, but those take a lot of work to setup and manage. IMO this should be a good substitute.