Ok I have a few ideas on the "live draft" idea.
And just a note: I have no idea about drafts
Now in response to your points:
1) I have thought of a couple of options. The best being a point system that is related to how much you spent per week. If you spent 40k/w then you would get 48 (12weeks * 4 players) points and a person who paid 10k/w would get 24 points and so on.
When the draft list is released, "Managers" could see the "best position", the "default estimate", the name and maybe the height.
Each point that was accumulated during the season could reveal a particular statistic of a player and then players could rank them in preference (like assigning jersey numbers).
2) The teams who could not log in (me included) should be able to have a decent chance of getting decent players this could be done by having a pre-Draft area where we can select what type of players our points should goo toward discovering. This way if a team lacks a power forward they could select just power forward from the list and when the draft comes around there points go toward finding power forward attributes and then ranking them in order of preference. This maybe another thing the manager could control could be selecting a preferred attribute as an order of preference (e.g. 1. height 2. rebounding 3. inside shot).
Just throwing ideas around at the moment...
3) I think at the point of showing a player information of a player they have scouted you have lost control of that information. You can only make it slightly more difficult for them to distribute that information. I mean once someone has seen the (discovered) attributes of a player they have scouted I don't think you could stop them from writing them down on a piece of paper and telling other people.
I see two ways to stop this being a major problem:
1. Use flash and make the information about players un-selectable (no easy copy and paste)
2. Make the attributes of a player costly to find. (requiring a LOT of points, as suggested above, to discover a whole players attributes.
Anyway hope my ideas lead to something.
Ciao,
Niko