The one on (removed link) is pretty decent. Salary-cap based, but the values change during the season according to demand for the player (which is driven by performance). You start off with 100 points to allocate, and players generally range from 3pts to 10pts each.
This is flawed though, because you can bust the salary cap. I started the season with Soward and Ellis, who both had blinders, and ended up with a total salary cap of like 125 points.
Anyway, the best thing about that competition is that it rewards things like kick metres, line breaks, line break assists and you cannot pick any player in any position.
For all that, however, you're still better off with a team of goalkickers and workhorse backrowers. My backrow was David Stagg, Nathan Hindmarsh and Michael Luck - very effective in the fantasy league, but would get stomped in a real footy game.
Perhaps rewarding tries and try-assists more would be a good thing. My backline consisted of:
1. Gidley (goalkicker)
2. Luke Covell (goalkicker)
3. Gavin Cooper (tackling machine)
4. Ben Smith (tackling machine)
5. Luke Burt (goalkicker)
6. Jamie Soward (goalkicker, kick metre machine)
7. Robbie Farah (tackling machine - out of the halfbacks listed anyway)
At face value, that would be one of the worst possible backlines in the NRL, but the way fantasy leagues are geared toward goalkickers and tacklers, it worked nicely.
For what it's worth, I came in the top 100 out of about 12,000 players.