This past year I played in an Ottoneu league and had a blast with it. Unfortunately, it appears that league is disbanding but I would LOVE to get another one going that actually has a chance of lasting more than one year.
It is a fun format that does a good job of balancing big league and minor league players, it discourages picking up and dropping players every day/week to balance those with a lot of time and those with not so much time. It is a points league so no head-to-head matchups and Tommy mopped the floor with the rest of us this year.
It does cost $10 a year to play but, for me, it was worth it (and I am horribly cheap when it comes to online stuff/phone apps). Anyone have interest in it?