One thing that I think really should be noted is that using this system, you can really have a lot more freedom in ANY league, not just a historical league -- as long as you start it with in an inaugural draft.
I know this is not an ideal option for EVERYONE, but for most of us playing fictional leagues, who DOESN'T sim out the initial run of players in the first place? Even if I'm starting my league with no history, I'm running at least 20-25 years and THEN nuking the history.
In a true historical setting, you won't need to use the settings as your rosters are already set!
Also, for fictional players designing their own worlds, this enables you to have an owner with a lot more money, while editing their market size to be smaller.
(NOTE: I have not tested this, its just an educated hunch.)
Regardless of if that hunch is right, it does give you a lot more room in designing a league in Middle Earth, and having Mordor have infinite resources, for example.
The Yankees and the Dodgers are a prime example in my scenario that I was able to give them more money if I wanted, and its money they keep.
I just don't know how their market size is going to react going forward in the other example if you edit it...