I have 5 drafted fantasy teams, 3 from nfl.com and 2 yahoo.
NFL.com 12-team, 14-man rosters
Rumord Panthers = 3-0 but tied for 7/8th in points. This is the most active/competitive of the 5 leagues.
Peru Pirates = 3-0, 2nd Overall (behind the leader by 2 points)
Peru Panthers = 1-2, 2nd Overall in points. This has been the biggest disappointment. At RB I have Faulk, McAllister, and George, but early problems with Faulk, combined with poor points from kicking and TE have caused some losses. I think this team is ready to rock now, although I need 2 of those RBs to be healthy.
YAHOO.com 10-team, 15-man rosters, 3 WRs start
Rumford Panthers = 3-0 (I should have named all of my teams Rumford Panthers

and they are 2nd overall in points.
Maine Maniacs = 2-1, 1st Overall in Points
Overall my teams are: 12-3
My weak point regarding fantasy football is the unit/salary cap type of team. On Smallworld I am really struggling, and my unit team on nfl.com hasn't had any strong weeks yet.
On many of my drafted teams, I've really beefed up the WRs through early free agency moves. I would say that the main difference (between the best teams and the worst teams in my leagues) is being active in free agency. In the first few weeks, we've seen some of the highest scoring fantasy players sitting in the free agent pools. Rookies, especially at WR, are having a good year, and this week saw mad scramblings for Portis and Wells, who had originally been on rosters but were productivity casualties.
Overall I've found:
1. Early RB drafting is a MUST. You will never see me draft anything other than RB, RB in the first 2 rounds of a draft. How many people are happy that they took Warner/Garcia in Rd 1? Shaun Alexander is probably the biggest exception this year, but all I can say there is, "I told you so." RBs are the foundation of your team and finding a good one in the free agent pool is like finding a Monet at a Goodwill.
2. Too many players buy into the media hype (or lack thereof). In many of my leagues I was able to grab Tom Brady as my 2nd QB and New England as my 2nd Defense. This is a key to good drafting ... getting your share of the popular/great players early and grabbing the unheralded but great players later. Most McAllister fans were probably able to get him as their 2nd RB (if they were patient enough to wait for that pick). That's why you see people with combos like Holmes and McAllister out there. If McAllister had been drafted first, there certainly wouldn't have been any Holmes to grab in the 2nd round (unless you were in my wacky but profitable to me 10 QBs in the 1st Rd draft).
In one of my few losses so far this season, I was burned by a really bad trade (3 people voted against it) which allowed Priest Holmes to join the league's higest scoring team on the week I played them. GRRRRR.