I used to play their baseball and hockey leagues. It was pretty cool, players prices went up when more people added them. You had a limited number of transactions per season, and you wanted to 'buy low, sell high' on players as much as possible. Looks like they went out of business, but I was just remembering them and what a cool concept that was.
Good old smallworld sports. That's where I first started playing. I moved on after the first year I played there. It was stupid because Every team in your league could have A-Rod if they wished. I like yahoo a lot better.
I started at Sandbox in Glaus' breakout season, and I had him for really cheap. It had pretty much the same concept as how you described SmallWorld, with everybody being able to own the same players, and buying low/selling high. Ahhhh, the good old days when everything was free
"Jack, will you call me, if you're able?"
"I've got your phone number written, in the back of my Bible."