OSUPiper has a great threat about edits he does at
this post. I don't quite get as deep as he does - I have a tendency of falling down the editing rabbit hole sometimes to get things perfect - but I do like to edit 5-10 super freshmen/sophs at big schools and then I also go through all the smaller conferences and edit 6'9" or taller players to be 1-4" shorter.
I just go through the teams, sort their roster by height, and if they have any tall Fr. (or JUCO recruit), take a couple inches off their height. It can take an hour or two, but it also gives me a chance to kind of get to know teams/players more in-depth.
I've only done it for a few seasons, but so far it has seemed to minimize wacky upsets, especially in the NCAA tournament because the seedings are generally better.