Quick play the Yankees or Red Sox and don't worry about it.
Seriously I am working out a system and I would appreciate discussion.
Rule 1 no more than 10% of payroll on one player. In my fictional league I broke this a bit I have a payroll of about 172 million and my possible HOF 1b is getting 18 million. You will have up to 40 guys on your secondary roster. I don't recommend capping it at 1/40 for each position splurge some places and skimp others.
Rule 2 You can have some average guys and do well
My SPs are 3 star mostly. Again with no more than 17 million or so it is hard to find aces if you have to go free agency. If you can home grow one keep until arbitration sends his salary through the roof.
Rule 3 home grow where possible. Having young guys not arbitration eligible or in the arbitration stage can't be understated.
Where to splurge
SP you are going to have pay for it. As a upper mid market team I don't have a Cy Young potential guy. My scouts say my Ace is a mid rotation guy. With rule 1 I am paying a little less than 10%.
3 hitter No way around this a guy with good contact, gap, and power is going to cost you.
Where not to splurge
C It is very hard to find good hitter C. Historically this is a skill position. Good hitting C are going to cost you an arm and a leg
CL the moneyball system said closers were overvalued in the league. The AI doesn't tend to undervalue much still closers and set up men are going to cost you for a bullpen. The Houston Astros have shown you don't need Hoffman/Rivera etc to win it all
Leadoff ? Depends. I am playing in the AL my filter is above average (60 on 20-80 scale) Contact, Avoid Ks, and stealing. I found a guy who can't field for about 1.5 million. That is ok when he can DH, he is deadweight in interleague games where I don't have a DH though.
Moderate expenditure
4,5,6 hitter I'm old school I don't mind an Adam Dunn in cleanup (high K low avg lots of dingers) 5 and 6 need to be RBI so just above average power and average contact or even good gap works
SS
The skill spectrum is a tool I use. That is SS,C,CF are going to be the harder positions to play and skills are a premium. I not quite the 70's-2000's Astros with a light stick glove wizzard here but it can work. A good hitting and fielding SS is gonna cost a lot though. So average hitters can work.
2 hitter again you want good OBP here. Set the table don't need a 30/30 guy but if you can get it it is nice.
I tend to put moderate expenditure or low for the 7,8,9 hitter if DHing. Again rule 2, even in an Astronomical market it is hard to pay for a team of All stars if you don't home grow them
I have probably learned more what not to do like splurge on a Cy Young winner ace and have a 4A player in the five rotation spot. I have had a 18 game winner and not made the playoffs before. That team didn't win 90 games and I often found it hard to sign talent to fill holes where needed because the budget was at the limit.
Last rule. Try to keep some budget for trades for that last guy you need to make a run to the playoffs you might look for in July. It is a long season of trying to trade overpaid underperforming guys when you are 8 games out of the wildcard in July and you have no budget. Also FA is only one way to get what you need you need to be open for trades and have some budget to improve if you are on the cusp near the trade deadline or need one more gun for a world series run.