We play with a large bench - 16 spots. You can draft 11 and the other 5 have to be acquired via the waiver wire following the waiver order. This puts a ton more emphasis on getting your depth on draft day. Short benches are fine, but I've found it often renders the draft nearly meaningless because teams that draft the worst and get off to the worst start get first crack at the best breakout players and more easily find replacements after critical injuries. Large benches put the emphasis on strategizing your roster right from the start. For example in my league, the best player picked up off the waiver wire after week 2 this year was probably Hank Baskett.
As far as IR goes, I used to play with it but it causes more problems than it is worth. If the owners want to have more flexibility, just add bench spots. If they want to restrict the holding of players, then reduce bench spots. IR rules just cause a whole bunch of arguing about who and why should be allowed on IR, how long, and every year people try to change the rule. Just go to a set amount of bench spots, eliminate the IR, and your Commish job becomes 10 times easier.