For those that are not aware, and most probably are not, there is a new fantasy site called Fantrax(.com).
They are in their first year and host absolutely free public & private leagues. Their goal is to stay totally free.
They host, already, NBA, MLB, NFL, NHL and several college platforms, and stay in business with advertising and pay-to-play fantasy contests and games/challenges. I've tested out their league manager for MLB and it's already competitive with CBS for having the most customized features. In fact, by next season, I estimate it will have already blown them away -- and it's completely free.
(Yes, I sound like an advertisement but it's not my site. I just told them I love the work they're doing and would put in a good word).
I've been over there sniffing around only a few days, and they've already answered every email and question I've had, and engaged in detailed correspondence regarding new features and requests. In fact, they have already pledged to put in some additional stat formulas I've requested as soon as I get them compiled. Their mission is to put in as many new features as possible. Looking at their log, just during the season alone, they've added (on average) about 2-3 new options a week.
I can't say enough about these guys. Hopefully their pay model keeps them afloat because I think fantasy gamers are in for a real treat. The cosmetics could use some touching up, but for being free and the usability the site already offers, it can be rough around the edges.