I've played a couple seasons FTF with some relatives a looomg time ago. We blind bid for players, which was very cool. Everyone started with the same amount of cash (your budget) and then a player was named and then we would bid for him.
Thats an interesting way to do it! We used to just put all the SS, 2B, C etc., in piles and draft pretty much like we do here. The football drafts were set up differently.