Although this isn't terribly detailed, it is the PVM method described here:
http://www2.mockdraftcentral.com/articles/460
I had a more detailed article but it has since been taken off the web. I plan to write my own describing the methodology in the Compiler in the near future.
I think you asked last year about being able to see the marginal contribution percentages rather than dollar values in the Compiler. I think we can do that. Unhide the sheet compile_hitters, and scroll across to cell DC9. It has this formula:
=IF(OR(AR$26=1,AR$27=TRUE)=TRUE,MAX(FLOOR(CZ9/CZ$7*AR$39+AP$31,AR$31),AP$31),AV9)
Try changing it to this:
=IF(OR(AR$26=1,AR$27=TRUE)=TRUE,CZ9,AV9)
which basically deletes the part that calculates the dollar value and inserts the marginal contribution percentage for that player. Copy the formula down for all players, and repeat on the compile_pitchers tabs. Hit Compile Cheatsheets.
Might want to keep a backup copy first in case something happens I'm not expecting. You probably have to change the formatting of the dollar columns on the cheatsheets. Does that help?