Jimi: Should we drop from the team the players that were mid-season waiver wire picks? They can't be keepers or traded.

No, whatever you do, don't mess with your rosters. CBS is still in the process of archiving the 2009 season. Just leave the rosters as they are or it will mess with the 2009 season totals and such.
Once CBS launches the 2010 game we can check into it. Best thing to do now is print up your team and you can cross off your non keepers if you like.