I've just done my first deep league (20-team) and it was a great challenge, but lots of fun!
http://www.fantasybaseballcafe.com/foru ... hp?t=98357
I see what you mean about the older players...Bagwell will probably do OK, but there's a lot of 1B better than him these days.
I don't like the look of your utility guys or your bench, and you seem to be missing a SS!
SPs are OK, but you don't have any closers (Smoltz is going back to starting this year).
On the positive side, Beltre & Suzuki were a great 1-2 from position 16, and Beckett, Mussina & Smoltz are a nice top 3 to have as your starters.
I think you need to scour the waiver wire for some young guns and others who may not have been drafted.
Look for players like:
C - J.D. Closser (Col), J. Buck (KC)
1B - C. Pena (Det)
2B - C. Utley (Phi), C. Burke (Hou), T. Iguchi (ChW)
3B - D. McPherson (Ana - very unlikely, but might be there), M. Cuddyer (Min)
SS - B. J. Upton (TB), K. Greene (SD)
OF - L. Ford (Min), K. Mench (Tex), J. Lane (Hou), J. Reed (Sea), N. Swisher (Oak)
Util - J. Bartlett (Min)
Any of these guys could do a decent job for you as a util.
For pitching, look for:
SP - S. Kazmir (TB), E. Jackson (LA), V. Zambrano (NYM), C. Lee (Cle), H. Ramirez (Atl)
RP - M. Adams (Mil), J. Speier (Tor), R. Dempster (ChC)
and keep your eye on what happens in spring training for any changes to closer roles.