This how it basically works, I'll use myself as an example:
This was my Team as it stood at the end of last years league:
I am able to choose any two guys from that list and place a keeper tag on them. In my case, I chose to keep Deron Williams and Tyreke Evans.
Now, it's up to you to determine whether you'll keep two players, one player or no players. This obviously only affects returning users. So in your case (as well as Gibby, SA and Maharajah) it wouldn't apply to you until next season, assuming you'll still be here
If you choose to keep one, you lose a first rounder. If you choose to keep two, you lose a first and a second. And you are only allowed to use the keeper tag on a specific player twice. For example, if I choose to keep D-Will again next season (2011/2012), I won't be able to use the keeper tag on him the following season (2012/2013).
I'm fine with the current draft time, but if it's changing to a Sunday, can it be during the day?
I'm more likely to be laying on the couch watching football.
If it's night-time then I might be out drinking.
Just a thought, I donno if everyone else is the same...