I don't think you did to bad. I have never played in a 16 team league.
Ryan should have a solid year and A. Johnson and Welker are two great WR to have in a PPR league. I am a little concered about your RB since they are both involved in a RBBC situation. Olsen should have a solid year with Cutler throwing to him. Favre is a nice backup although they will run the ball a lot with AP. However, he will benefit from those screen passes.
Take a look at mine pleasehttp://www.fantasyfootballcafe.com/forums/viewtopic.php?f=19&t=445075