definitely need a draft board. cheap draft boards: http://commishkit.com/
i would suggest getting an attractive female to be a "draft board girl." i'm absolutely serious, having someone putting stickers on the board will greatly speed up the draft. in leagues with my buddies i always get a female friend to put the player stickers on the board as we draft. owners stay in their seats and simply call out the player name and position, while the draft girl puts the sticker up. it eliminates the owner who doesnt know who they want to pick taking their time deciding, then going up to the board, then finding the player, then putting the sticker on the board. as well, many times owners will not call out a player until they are actually putting the player on the board. at least, prepare well for the draft yourself, and runs the draft board yourself. one player putting up stickers is much faster than 10 or more different owners walking around doing it.
dont set a limit. its supposed to be fun, but remind owners when their pick is coming up if they habitually take a long time to make a pick