I'm just going with what I know works, S3SL has done it since I've ever been around. The other leagues do it and that's how I'm doing it (minus the compensation stuff in triple play, I'm not keen on that just yet).
And it doesn't seem to bother people in those leagues. [shrug]
Open bidding, HA. Good God. I once did that in an NBA sim with my friend. Chaos.