I got a PM about how this league handles injured players, and I want to extend the discussion to the rest of the league.
First of all, if you have a highly valued injured player and you release him, that player is available to anybody else in the league. That player can be stashed on the roster and kept for the next season at a 7th round value just like any other waiver/free agent pickup. This actually happened once already. In the first season of this league somebody dropped Tom Brady after his knee injury. The person who picked him up was able to keep him on the cheap. To me this is part of what makes a keeper league interesting. Everybody will run into a decision like this at one point or another, and it makes things interesting. I had to decide last year whether or not to drop Ryan Grant (who had been drafted in the second or third round) and possibly allow a competitor to get a good value on a RB for this year, or keep him on my bench and be short a roster spot.
One aspect of this that hasn't come up in this league before is, what happens to the keeper value of a player who is dropped, clears waivers, and is picked back up by the original owner? Does the player retain the original keeper value (for better or worse) for the team that drafted him, or does that player revert to the same seventh-round keeper value like any other player that goes through the free agent pool? I'm interested in seeing what other people in the league think, because I can see it both ways. On the one hand, I can see how some might not want to see players' keeper value being "laundered" thru waivers. On the other hand, I can also understand the point-of-view that if a player with a high keeper value clears waivers that means everybody else had a shot at him, and if you get him back you deserve whatever reward that might bring. Of the two options, with the way I re-construct rosters and keeper values the former would be much easier, but the latter would still be do-able.
Also, I did a quick look and saw that Yahoo does have an Injured Reserve option for keeper leagues. It is implemented as a roster spot (similar to QB, WR, TE, BN, etc.) so if we wanted to make a change along those lines we wouldn't be able to do anything until next year. I'm just wondering for now if there would be any interest in it.