In my league we kind of do something different...
We use a "pick bag" system.
Each "bag" has 2 picks in it. Pick 1 and Pick 10, Pick 2 and Pick 9, and so on to Pick 5 and Pick 6.
So there are 5 bags.
We take last years final standings in team points and go backwards...
10th team gets to pick what bag they want to pick from. Sure they might pick from the bag that has picks 1/10 in it, but then it leaves a chance that the worst team from last year ends up picking 10th, so there is a risk/reward.
Then so on down the line until the top team gets "stuck" with whatever bag is left.
So, we all have to decide what bag we want to pick from weeks before the draft and you can't change it later at any time.
So, you can then at least strategize/plan for either picking in 1 of 2 spots, so at least you have some idea.
However, once we get to draft day (we do a live in person draft) at that point we actually pick out of the bags to find out exact draft positions.
So, it keeps the excitement of finding out where you draft on draft day, while still allowing for some strategy/planning.
The only thing it doesn't allow for planning wise is to know exactly who is picking in front of you and therefore planning for their drafting tendencies which plays huge in our league on draft day.