A sticky would be nice.
I had to start this thread because this mode was the main reason I bought the game.
Right off the bat, two things that should have been included: Leaderboards, and the ability to play against a friend's team in an exhibition match, even if you get no VC.
Anyway, I don't think people are realizing that you can resell all of the players in your starter pack for the price they're worth, and then basically chose your team out of the lower rated tier players. That's what I did, and this is my team as of now (my 360 gamertag is birdman711ify, just incase you play me or something):
Starters
PG: Austin Rivers
SG: Mike Miller
SF: Harrison Barnes
PF: Rashard Lewis
C: Hasheem Thabeet (with some low post offense Signature Skill equipped)
Bench (in no particular order)
Jimmer Fredette
Jonas Valunciunas
Donatas Motiejunas
Ryan Hollins
Anthony Morrow
C.J. Miles
John Jenkins (maybe someone else though, I can't remember. Jenkins is either just in my collection or on the team)
I wear the Pistons alternate red away, KG era Wolves home, have the Nuggets court, Pistons playbook, and Monty Williams as my head coach.
There is such an increase in price from the bronze to silver players. Rashard Lewis (bronze) costs 850 VC, while Boris Diaw and Kurt Thomas (both silver) are 10,000. I'll try to answer any questions you have about the mode too.
Some rookies and young players with potential are extremely cheap (like Barnes, Rivers, Valunciunas and Motiejunas), so buy them before their prices could go up drastically. And someone like Thabeet is very much worth their low price, with height and shot blocking, as well as he's easy buckets around the rim.
I lost my first game to some guy who went off with Wayne Ellington (possibly with an attribute boost or signature skill equipped). Ellington had six threes and 20+ points. His team was probably worse than mine too.