I like a lot of this but it's maybe too ambitious.
I think a 30-round draft is biting off a bit much, but I guess it depends on how many participants make up a league. 10 participants = 300 drafted wrestlers. There are 76 programs and thus 760 starters. A league of 10 would thus exhaust 40% of all NCAA starters. A league of 8 exhausts about 30% of all starters. Even hardcore fans will be mostly guessing once you get past the top 15 in a weight class.
More practical problem I see is one you already noticed--administration. The waiver wire especially requires some degree of automation, or else a diligently fascist micromanager with nothing but time on his hands to coordinate annoying emails and manage spreadsheets.
The other thing that would benefit from automation is the rankings component, since that changes week to week, and there would be confusion as to when wrestler x was ranked in top 12. Well, confusion if it wasn't fully automated.
Wrestlestat could probably do a lot of the type of automation suggested here, but even
@andegre is starting off his fantasy component on a smaller scale.