I'd say keep the wagers between 1-5 units....start with 250 possibly? 100 may not last long if someone has some serious crappy luck. 1000 isn't really necessary. I think the starting point should be low enough that guys won't just throw out tons and tons of 5 unit picks without any consequences.
I'd say no playoffs. Mainly because the season is so incredibly long and by then it's into football season and I no longer care.
