You can draft however you want, but after your first 2 games, I'll bet $100 you'll be banging your head on the wall saying "WTH was I thinking".
Here's the deal with our draft:
Live draft:
pros: tradition, subsim comradery, user friendly (newbie), easy to fix mistakes.
cons: takes >2 hours to complete, must find time when majority of people are avalible, technical issues with yahoo chat, major pain in the a$$ for the person running the draft. complicated keeping tract of which players have been drafted.
Auto draft:
Pros: Very efficient, don't have to spend the whole afternoon doing the draft
Cons: not newbie friendly, you have 3 mins to make your pick or yahoo picks for you. No interaction with others.
Anything I missed? Also, if you can't make the draft or are a no-show, that is a major hassle and source of frustration for everybody.
If you can survive the draft, then the rest of the season is cake.