I run a league located here:
http://www3.myfantasyleague.com/2009/home/30070
Would like to follow the same exact format, and can commish it again.
Would like to get another league going.. 12 teams, 50-100 bucks, we'd start this year with a 21 round veteran draft, and then after a 6 round rookie draft.
You keep all your players every year, and just do a rookie draft in preceding years.
If we can get some interest I'll post my current ruleset and we can debate it. If we get lots of interest POG seniority will be tiebreaker because these are way more successful with active owners that are in it for years to come.
If we did the draft would be offline draft and you can pick on the site. 12 hour time limit, although with this many rounds we'd want to start by July 1 and make sure we have active owners.