Okie dokie, it can be done (wish there was an bit of an easier more permanent way, but I know of none)....
You can watch any game you want and not be forced to manage the other teams. Here is how (using PSCX2 on PC (though I suppose you could do the same sort of thing on XBOX or PS2):
Pick your team and have it set to what you want to control (signings, coaching, trades, drafting, etc.). Have the other teams in the franchise initially set to AI control. Play your team's game that week and make a note of any other games that you may like to watch that week.
DO NOT advance to the next week or simulate any of the other games. Save and exit the franchise.
Run Mymc (
http://www.csclub.uwaterloo.ca:11068/mymc/ ) and select your memory card that the franchise file is on. Export it using that utility as a .max file. Delete the original (you will be working with the exported file).
Open the exported franchise file in Flying Finn's 2k5 Editor. Cycle through the teams till you get to the ones that have a game you want to watch. Move the mouse over to the left of the team name where it says CPU and right click it. Change it to "User Controlled". Do this for a least one of the teams in any given game you want to spectate that week. Save the file.
Run Mymc again and choose to import this altered franchise file (note: the original on the memory card needs to be deleted before attempting this or else it will not allow the import (as the utility will tell you that the file already exists). Once the file is re-imported back to the memory card, you are good to run PCSX2 and the game again.
You will now notice that you are able to select and run each of these games (you can set the controller to the center to let the cpu coach the game --- or you could take over if you wanted as well).
After you have watched these games, DO NOT ADVANCE to the next week yet. You need to set the teams back to AI control (to allow them to do any depth chart movement, signings, etc (which I believe are done just prior to teams being able to play the next week). Anyway, to change control back to the AI you follow the same procedure as above, only changing human control back to cpu.
I believe this should work out fine...and allow for any match-ups/play-offs etc. to be watched if desired.