Not in favor of expansion until after year 2. As has been mentioned, the league has had one owner replaced already and people are still trying to adjust to their rosters.
As for the rest I agree with fenris:
I think the easiest way to work the cap holds (and I do think we should use them) is to use the last year's salary as the hold amount. That's not what the NBA does, but it is way easier. For mon contracts we might want to add a caveat that the minimum cap hold is, say, 500K, for any player who made 500K or less. That's simpler too, an we need al the simple we can get.
If we're going to use cap holds then I think we need to use the MLE. IN the interests of (again) simplicity I think a flat figure of 6M works.
The matter of differential allowed raises is sticky, and I'm not sure it's worth the extra work. Allowing everyone a flat 10% raise amount on all contracts is easy. On the other hand, if we allow some form of Bird RIghts that included a provision for, say, 12% raises instead, it would give the home team a slight advantage which isn't a bad thing. Exactly how to work a simple and effective mechanic for Bord Rights is something I'll have to think about, since BR are based on years of service, which is something we don't have to work with here. What would people think about allowing each team to nominate a certain number of players now, say 2 or 3 maybe, as Bird free agents? To simulate a squad with history. Any player with a contact of 3 years or longer counting this season would get that anyway, so it's to add some limited protection for the shorter contracts.
Rookies probably need to have a version of Restricted free agency too, at least for 1st round picks. Again, there's the issue of simulating history for the current rosters. We could say that any free agents this season and next season (and maybe the season after that) who were drafted in the 1st round of the actual NBA draft automatically count as RFAs in our league. After 2 or 3 fantasy seasons we should be able to use the fantasy rookies as they were drafted in the league.
That assumes we're having a seperate rookie draft. I think we really should. If we're going to we need some guidelines for that too. A rookie scale, ect. I don't recall where everyone else was on that idea.
That's what I have for now, but I'm sure I'll think of something else.