Would be nice if a team (who loses a player drafted to FA) would be awarded that same round pick as compensation.
The exact same way they do in real life NFL

Teams don't get the same round pick the player was drafted in. Comp picks are never higher than the end of the 3rd round in the NFL. By the end of the 3rd round in most drafts in this game there isn't much left

it'd still add to the realism of the game. I'd be more inclined to let a player play out his contract if i knew i'd get a draft pick after he signed. I think that there are some players in the 3-5 rounds that can be useful and productive if you really work at it. Especially in leagues without trading. I'm all for having a franchise tag and practice squad as well :)

Yes you can find pretty decent value between rounds 3 to 5, you just got to work at it like you mentioned above, just throwing my two cents worth

I like the idea of comp picks, though it would create a lot of bellyaches. The NFL formula, for instance, only applies to expiring contracts, not players who are cut, and only in the early FA period.

Other changes I would prefer to see:

More realistic minimum contract values, which scale with experience. A baseline would be $500K as the min for guys with less than 4 years of experience, and $1M for veterans.

Expand offseason rosters to 75.

Only the top 53 contracts (and dead money) should apply to the cap.

Franchise tag (to keep a guy for one year).

How about a guy that sits out of the league for 3 yrs bagging groceries instead of taking an offer to play in the league, just because he’s unhappy with me?
Totally unrealistic when you consider how guys are bumped & returned to the practice squad through the season.