Having been involved with the start-up of three Dynasty Leagues (12, 14, and 16 Teamers), if there's one thing I would absolutely IMPLORE you to do, it would be to conduct your initial player disbursement via AUCTION...
It's a Dynasty League. The initial player disbursement is the foundation, the blueprint if you will, of how each Franchise Owner is going to go about building his team for years to come. What better way to ensure they all have some choice in the matter than to give every owner an equal crack at every player?
There are several quality threads in this Forum with Auction Info, and here's a site that should offer convincing arguments as to why and how Auction Drafts are superior to the traditional serpentine format:
http://www.fantasyauctioneer.com/proxy?:in...l:command=20000
As I'm adamant about this, I will say it again.
When starting up a Dynasty League, use an auction to allow every Franchise Owner the option of building his team as he so chooses. Give every Owner access to every player - it's the only fair way to do it.
I'm also a big fan of Contract Dynasty Leagues.
Contracts meaning 'year' contracts, not salaries. Some folks enjoy this, but in my opinion, managing to that detail makes FF more like work. Not my cuppa Joe...
I find the best guideline to be allocating a Contract Cap in the amount of 3 years per player. For example, if you have 40 man rosters (Offensive + IDP), each team would have a 120-year cap, the 120 years to be spread as each Owner chooses across his 40 players.
Doing IDP almost led me to an early grave, so I'm not involved in it any more, but if you are going to do IDP, I'd strongly suggest doing two separate auctions (or drafts, if you must)...one for Offensive Players and one for IDP's. Since you are cutting out Team D/ST, your Offensive Player Auction should be shorter, and your IDP auction won't be as long as the Offensive Player one...don't stress about time. Remember, it's a Dynasty League - you'll be selling yourself and the whole League short if you rush through anything...
If you use a Contract Cap, you are going to have situations where Owners want to cut players under contract. While some penalty should be assesed for this (not in the case of career threatening/ending injury, but in the case of bad judgement on the Owner's part), it shouldn't be overly harsh.
I prefer the idea that when you cut a player under contract, you still have to keep one year of the contract on your ledger during the season, unless another team picks up the player, in which case, you'd get your year back. At the end of the year, the books are wiped of all 'dead years'...
I think blind bidding waivers are a must for a Dynasty League...Dynasty represents a 'step up' in the level of play. Your waiver process ought to reflect this.
At the end of every year, players with 1 year contracts will become free agents. Are you going to have a Restricted Free Agent period? Once again, bidding is a great way to handle this.
What about Unrestricted Free Agents...and next year's Rookies?
Bidding is one option, but a 'previous year's reverse order of finish' draft is probably a better way to go. You could either bid on Unrestricted Free Agents, or use my preference, which is to include them in a Rookie/UFA Draft...it makes those Draft Picks even more valuable as tradeable commodities.
Exciting times ahead for you, friend...as has been already said, though: Don't rush anything - taking time now to flesh the details out will save you plenty of headaches down the road...
...and use this Forum to your advantage!!! As you can see, you've got one hell of a sounding board here if you have any dilemmas...