Fielding also seems to enter into PB and that's the main difference between this game and roto.
Also, as Ken says, players are penalized a lot for lower playing time.
A slug like Doug Glanville or Gerald Williams will get decent PB value.
If you know players from roto or other types of games, a lot of that knowledge is transferable.
Personally, I look for OBP and slugging as a big help on offense and then just try to at least be sure a player has respectable fielding ratings.
With pitchers, one thing you might look at is Ground Ball vs. Fly Ball ratings.
Park effects are a wild card.
What do I know? I think my teams always perform more poorly than they should!

And--right on. Let's get that luanch league filled so we can get going!

Dave (Renegades in 2002 LL1)