I have played in one season roto leagues with a live draft. And there is a big rush during the draft as you are trying to adapt when there is a run on closers or something.

However, I would never do that in a purebaseball keeper league for several reasons:

(1) In a 24 team league a live draft would have 120 picks. This means everyone will need to be online for 4 hours if you give 2 minutes per pick. You figure that in a draft applet it would take you 30 seconds to navigate once you figured out what player you want. That gives you 90 seconds to decide who you want. Personally on a team that I pay a fee for every month and keep players forever I want to be able to relax and take more time to pick therefore minimizing stupid mistakes.

(2) It would be an inconvenience to have to tie up several hours at a specific time. I would prefer to just fill in the lists and let the system do it for me.

(3) There are probably 30-40 perpetual leagues and some people have many leagues, which means that every league will have to draft at a different time. Under the current system I will just create one list and enter it for each of my teams (with some small modifications due to positional needs on certain teams).

(4) There is simply no reason to. The current system which allows drops eliminates the need for a live draft.

If there is enough interest to create new leagues with a live draft format then so be it. But count me out. Its more hassle than its worth IMO.