Actually, I believe the time limit per pick for a live draft was 1:30, not much of a difference though. I believe the only other draft option for Yahoo is the auto-pick draft, which as you described, takes the top player off your list. I don't remember there being a multi-list option. As far as the live drafts, even if you can't make it, you can set your list and it will take the top player on your list.
ESPN is by far the best, but I'm sure it's not an option since it's a bit pricey. I think Yahoo is the second best option.
Face it fantasy fans, the days of free fantasy "any sport" is going to be a thing of the past. It's such a big thing now, that all of the places that once provided a free game are going to charge. Even Sportsline is charging $9.95 for the basic league.