Lat year (our third FF season) we had our first draft party and we made this huge board out of a few sheets of poster board. The thing ended up being about 8 feet long and 6 feet high.
We drew a grid pattern over the whole thing and put the team names along the top and the round down the vertical.
Each name picked was added underneath the team name, it worked out pretty well until the late rounds where beer influnced many a penmanship ... not to mention beer has a strange effect on one's spelling ability.
Full draft order was randomly picked by Yahoo, and everyone of course had their own list of players which were copied and hadned over to the commish for submission into the system.
It worked well on a visual scale and as a way to keep track of who is where ...