EJ, this is the PERFECT complement to the DEAL league and draft! Not only does it allow MANY owners who have BEEN in the DEAL league that can't get back in because it fills so quickly, but it also adds a LOT of strategic options. Kudos to you for thinking of this!
ONLY problem I can see is later in the draft, trying to figure out who has been drafted and who hasn't. It is almost much more important to update the main page more frequently, or we will have a ton of "He has already been drafted in that season. You need to repick!" posts. LOVE this idea though as a complemnent to the DEAL!