10 rounds, 65 mil seems good. I'm at 56mil and all my guys are really good. You can't expect to only draft all-star caliber guys, makin it necessary to draft some guys for 1-3million would be more interesting.
LeBron's team comes in first, Durant's or Howard's second. reduce the cap too much and extend the roster spots too much, and the difference between drafting LeBron and Nash becomes too hard to overcome.