It's been built. I'm thinking that 12 teams would be about right. Go ahead and shoot me an email if you're interested. Since there is more than 12 members of this site, it's going to have to be somewhat exclusive (Read: competitive).
I think it would be cool to have two or three divisions (leagues).
D1: All-Stars (10 years + of fantasy experience)
D2: Pros (5-10 years of fantasy experience)
D3: Rookies (0-5 years of fantasy experience)
Also, what would be cool, would be to do it like the FA Premiership. The last three finishers from the All-Stars go down to the Pros, and the top 3 finishers from the Pros move up to the All-Stars, and vice-versa for the bottom three of Pros and top three of Rookies.
The only problem is, I can't commish all three divisions. So we would need a volunteer to be commissioner of the lower divisions.
I'm down for whatever, just let me know.