Yup I much preferred the old system. As a junior manager back then, just starting, I had the opportunity to sign some great players.
I also got my fingers burnt a few times!
But the final 10 seconds in bidding was epic. Caused a great buzz.
Plus as previously stated you learnt when, who and what to bid on. You developed strategies...in fact it was like playing poker.
1st round call or fold, second round call raise or fold, final round ....who folds last!
There is a manager badge for using last token to buy a player in bidding....back then it was an art.