Just my opinion, but live draft's are the way to go. If the day/time of the draft isn't convenient, players can alway rank the players ahead of time for the computer to pick. A lot of the fun of fantasy sports is the draft, imo.

Again, if you are picking a day to hold the live draft...make sure you pick a day as close as you can to opening night (10/5). That way we'll all know of any injuries to players we might have drafted if they were healthy.