The rule should be that a player who has played 40 games is automatically assigned to the major league roster. If it causes the cap to go over, or if the roster size is exceeded, there are natural consequences to this. We should then give the team a 24/48 hour window to resolve that issue. Allowing a free for all will create a serious tilt and ruin this league quickly. It will feel good at first, but it will be terrible later.
If a team is inactive and doesn't sign a player it would be unwise to Abomb that team and deter others from wanting it in the future. Furthermore, it certainly can happen that a minor league player reaches 40 games and somebody doesn't know about it, especially because they are not on the fantrax rosters. I think sending players to free agency is a bad route and will hurt us. This isn't a money league, its competitive but relaxed. That's my opinion.