The only thing I would consider changing is taking out the waivers. It is just, in my opinion, a waste of time that makes inter-team trading and dropping to and adding from free agency a lot more complicated for all of us.
That is just my opinion. I would love to hear your opinions, too!
I'll take this opportunity to explain what waivers are and why we use them.
Firstly, waivers do not affect inter-team trading at all. For the first 2.5 weeks, teams can trade players and homefield pick order between each other.
Waivers exist to prevent certain teams not having an opportunity to grab good players. For instance, Dranzer was dropped this season by TPT. If waivers didn't exist and I knew that was about to happen, I could've immediately put in to pick up Dranzer as soon as I heard Tai was dropping him.
Waivers prevent league officials and "insiders" from being able to pick up recently dropped skill players quickly and to deter "skill dumping". It prevents a top team from grabbing these players before all teams have a fair opportunity to know that the player is available. The closer a team is to the bottom of the standings, the more priority they receive in claiming a player. That's why the bottom ranked SXP was able to claim Dranzer after Tai's drop instead of a top team like SUC or BST. If a player passes through the 2-day waiver period without being claimed, they are fair game to be added/dropped at any time (See: SUC adding Souler a week after he was dropped from SXP).
There is a ton of precedent with waivers working in the "real world". Professional sports leagues do it, as well as fantasy sports. It helps maintain a level playing field, prevents collusion, and contributes to a more competitive environment.