Has it been determined how the draft will be held? (i.e. live, by posting) Personally I think it should be by posting with say a X amount of hours given to post when you are on the clock, otherwise you forfeit your pick. Then you could also give a list of players you want to someone if you know you aren't going to be around and have them pick for you.
You can't do minutes, theres no way to organize it and have everybody here for such a long period of time with people in different timezones etc etc...........it has to be done over a period of days with a substantial amount of time being given for each pick to be fair to everybody, its not like it matters how long it takes anyway. Most of the picks will go fairly fast anyway I am guessing.