The draft is now a full 6-round draft. Length of draft doesn't appear to be changeable.
Speaking of customization, here is the league editor screen.
The "league revenue" and "salary demands" boxes would seem to indicate that inflation is an option in this game, or at least a mogul version of a "financial coefficient." Neither is mentioned in the current help file, so I'd assume they're new features for this version that will be documented by the time of release.