At 12:30, I have an AL-only 12-team 4x4 draft on Yahoo!. Unfortunately, I was unable to load the draft software and won't be able to participate. I did pre-rank players, but in a way that seems very haphazard.
I risk heresy by saying that, but I really don't have the inclination to rank 500 or so players. What I did was adjust the Yahoo! ranks to reflect some position scarcity. This means adding some catchers and middle infielders to my rankings to off-set the 1B and OF runs.
More importantly, I excluded Keith Foulke, Kris Benson, Scott Elarton and a bunch of other useless/injured 4x4 players (read: many starting pitchers). Foulke had good numbers last year, and I fear he would have been auto-selected. This one move is a must in autodrafts!
As with autopick drafts, I am curious how this will turn out.
Update [2007-2-28 16:30:6 by Eric Hz]: Here is my team with the boo-boo. In addition to failing to exclude Liriano, I had only pre-ranked enough players to get through 10 rounds. Another wise move when pre-ranking is to do so for the total number of players being drafted. In this case it was 12 teams for 21 round - 12x21=252.
Here is a link for the draft results.