I'm pretty sure we've got the final league size, player generation, and draft nailed down. (I've been secretly been working on this for a week
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Player generation was the hardest. The trick is to have enough elite talent at each position, with a little overlap between positions, while still creating specialists. In the end, I think I have a pretty good system. We'll see when I get to playtesting....
The allocation draft is 100% functional now. Coaches draft according to their roster preference, their specific starters package, and their current depth chart. The depth chart is also evaluated after each pick, and each potential draftee is measured against the current roster to try and maximize value.
If you're a human, you still get to use the benefit of the CPU player value AI through your coach's suggestion. The top 3 players (according to your coach) are proposed to you. Click on any of them, and you're brought to them in the draft list so you can see how they stack up against the pool. I've found that I end up going with one of the suggestions about half the time. It's not too bad.
Initial contracts are generates based on the overall player value score, and it's sort of based on fantasy football auction drafting. The contracts start at $1 for the bottom players, and rise quickly near the top of the draft to a max of $80. I've never seen a perfect player yet, so the functional max is somewhere around $70. Teams are usually drafting around $170-$200 worth of contracts. Right now I have each initial contract at 1 or 2 years. The thought is that you won't want to be locked in to a long contract right away, and could extend players as you see fit.
I've also got a few other small features built in, I just don't know how I want to use them yet. The entire draft is logged pick by pick and can be exported. I might use this for league news or something. The draft is also set up to be used for the college drafts, so I won't have to redo any of the work later.
The player value scoring AI needs a little work, but I can't dial in exact value until I'm done with the final refinement of the in-game engine. It's pretty close right now, but it could use some improvement.