Yahoo leagues are pretty fun. You get to pick the number of teams, which categories count for points, and what style (roto/h2h) your league plays. The live draft is solid. Once your league is organized, just have the league creator decide when to set the draft starting day/time. All you do is look for the player you want (its organized by position, alphabetical, or yahoo's own fantasy rankings) and then when its your turn to pick (about 90s each pick), just select him. I would recommend holding off on drafting for maybe a week or less, there are some players (mostly young 1st/2nd year players or those injured last year) still missing from the database, but will be added soon.
statTracker isn't worth paying money for, so you don't need it. Yahoo updates scores on a daily basis around midnight pacific time. the only difference is statTracker gives real time scoring updates for your team instead of the free service provided once daily.