My first year buying the PS3 version will also be the first time I do an online dynasty. Chalk it up to being lazy or not trusting the interwebz...whatever.
A buddy of mine is going to run the league, but I'm not sure if he's ever done one either. I guess we're just looking for warm bodies and suggestions for the dynasty at this point. I think we're both all ears on suggestions for how to run it, such as:
-Eligible teams. I wouldn't mind nixing some squads, but we could play a wide open dynasty too. If you have Alabama or tOSU, you're eligible to get clowned if you lose though. I wouldn't mind delegating this to certain conferences either. Say, a Pac-10 only dynasty.
-7 minute quarters good? Five minutes just seems entirely too short.
-We all obviously use the same roster. I think the three current people in the OD all have the rosters from my EA Locker (PSN: thiel82). It's all named including transfers.
-All-American difficulty? I think this is pretty common.
I guess most importantly, we play during the late morning, during day, or late at night. We all have jobs that kind of have strange times. You won't need to pound out a season in two days or anything, and I guess you and your opponent just really need to be on at the same time to play your game, so maybe timing isn't everything here.
If you're interested, just drop a reply in the comments. Also, feel free to add me on PSN. I think currently I have four or five PSN friends, so I can make room.