The thing ain't drafting because there are an odd number of teams and we're set up to compete head-to-head over the course of the season so Yahoo wants to make sure that someone always has an opponent. Bye weeks are for football.
In a H2H league, you match up against another team. Your cumulative stats are compared to your opponent's cume stats and you earn a record based on how many categories you win, lose or draw every week. We're set up for the traditional 5x5 (R, HR, RBI, SB, AVG/W, SV, K, ERA, WHIP), so you can go 10-0-0, 0-10-0, or anywhere in between.
I'd like to get one more team involved before drafting rather than losing one, because too few teams takes some of the strategy out of it. If we have to go with six teams, I'd suggest reducing the number of Bench positions (BN) to zero and stretching the waiver period to six days. This forces more strategy as you add/drop guys based on weekly matchups rather than just hoarding them on your bench over the course of the season. Eight teams would be better but I'd still advocate a shallow bench and long waiver period.