I find it really annoying that I want a player on another team and I work like 15 minutes on a trade but they would have more than 15 people on their roster or vice versa. I think they should be able to make the trade but the team with more than 15 should be forced to immediately waive a player. I'm not sure if Live 2004 PC has multiple-team trading, but trading is my favorite part is the trading, so I think they should allow 3 or 4 team trades.
Also, for Live 2005, there should be an option for not only a fantasy draft, but an expansion draft or both drafts before a dynasty. It would change the strategy in the fantasy draft.