A standard waiver for hitters, continuous FAAB waivers for pitchers option
Would allow you to fill your lineup on day of games, while also preventing the "vulture pickup" problem that affects mainly closers.
The main problem with continuous waivers is not being able to fill your lineup on day of games when games are postponed and guys aren't starting, of course. The primary annoyance with standard is vultures picking up setup men for injured/removed closers. This would solve both of those...
Seems to give you best of both worlds and I wouldn't think that hard to implement...
It would be helpful to be able to add advanced stats to your personal view when evaluating available players prior to waivers or draft. Currently you only see the stat categories that are scoring categories for your league. Yet many of the advanced stats help you find value. Yahoo forces its users to use other sites to gather this data when it could enable this data within its own site and keep users on its site for longer (add revenue for yahoo!).