Yeah, the Yahoo "waiver" system makes little sense. I wanted to draft Cueto but b/c he wasn't in the system at the time, I couldn't get him b/c my waiver status (determined by the draft) was too low. WTF?
In order to remedy this in one league, we have set up a system where one can "claim" a player (as long as you have a free roster spot) and if no one else with a high waiver position doesn't claim them in 24-hrs, he is yours (and then you go to the back of the waiver line by taking a random waiver player and dropping him immediately). While it is not perfect, it allowed me to "claim" Kershaw a week or two ago - not that I am expecting the world out of him, but my pitching needed some help.