We do a live draft, right now I've got it set for September 30th at 9:30 P.M. You draft 2 centers, 2 left wingers, 2 right wingers, 4 defense men, 2 goalies, a "utility" player (which can be any position), and four players for your bench. You have a maximum of 82 games to play in each of those positions. You move your players in and out of your lineup as you see fit, drop players, add players, make trades, etc. as the season goes on. It's a rotisserie style scoring, and we score on Goals (G), Assists (A), Plus/Minus (+/-), Penalty Minutes (PIM), Powerplay Points (PPP), Shorthanded Points (SHP), Game-Winning Goals (GWG), Shots on Goal (SOG), Wins (W), Losses (L), Goals Against Average (GAA), Save Percentage (SV%), Shutouts (SHO). Obviously the most gathered for goals, etc. gets the most points, while GAA and Losses you need the smallest.
That's pretty much it. But if you can't commit to following your team for the whole season (the entire NHL season), please don't play. It sucks when you have people that abandon their team...