Here are some thoughts about trying to even the playing field:
While I definitely like the idea of a draft, it probably isn't feasible to expect all 24 guys online at once to do it smoothly.
We could do an offline draft instead. I was thinking we could goup all the forwards together in one group, and all the goalies and defence in a second group. Each team submits a ranked list for each group. The guy with the first pick of forwards gets last pick in goalies & D, and vice versa. The draft would snake as well, so last pick in the first round gets first pick in the second round, etc. However, this is still alot of work for at least two guys, whoever it is who has to sort through everyones lists for the draft and whoever (hopefully more than one) who has to program the rom. I'd probably be willing to run the draft.
Another alternative is to basically have one division of 24 guys, where the regular season consists of 46 games, each guy plays each other guy twice, once at home once away. For these games, you can pick any team you want to play as. However, you can only play as each team a total of two times during the regular season. So everyone at one point or another will have to play as Chicago, San Jose, Detroit, Toronto, etc twice. For each game, the away team has to announce which team they're playing as first, so the home team can see what team their opponent will be before selecting their team. There will be alot of strategy in your selections, if you're playing a weak player, will you use a good team and go for the sure win, or will you try to beat them with an Ottawa? Likewise, if you're playing a top player, will you give them your best with a Chicago, or just burn a bad team on them and hope for a miracle? We can also add a rule that you can't pick the same team as your opponent to keep things more interesting.
For the playoffs, we'd have the top 8 teams participate. So 3 rounds with a maximum of 21 games (if each series goes 7). For the entire duration of the playoffs you can only use each NHL team once. So if you're in a tight first round series and have to use Chicago in a game 7 you won't be able to use them for the rest of the playoffs. Again, lots of strategy in what teams you pick and when you choose to play as them.
Let me know if you have any questions about this idea. I like it alot and this it would be cool to try.