This is a 14 team NL only auction league with a 6 round reserve draft. Draft is done on FREE conference call (there is no charge to you). League has been around for 18 years, it used to be a in person draft league in the Bay Area but as people have moved over time it has moved online.
Rosters are posted via google docs during the draft so it is really easy to follow.
You can check out the full list of rules and possible keepers here http://mostlylazyboys.blogspot.com/ in the middle of the right sidebar.
If you are interested in joining, the commisioner's email is located in the upper right above the baseball image.
Because of the length of contracts, there is a lot of turnover in the winners circle, so unlike some leagues where the same teams win every year, there is a very good chance to place in the top 4.