The salary cap is almost a deceptive element to this draft. Most of the drafts I've done here have had limited player pools (e.g., NL East 1970-74) or teammates of a smaller number of players (16x16), and the talent level determines what's a realistic cap most of the time. Here we started with a cap and then the nominees didn't really provide the player pool to match it. In some ways, though, the nominees don't really matter since we all just work from the limited pool, whatever it is. Just like last year with the league with no players chosen in R1.
The people drafting earlier did get an advantage because of the shallower pool of great SP, though. That's something that wouldn't have happened with, say, the silent auction. We shall see whether the other elements make up for it.