I prefer the Yahoo default because it discourages overuse of the waiver wire, like picking up a player just to prevent others having him. That's a valid tactic, of course, but there are dudes who do this every week. Especially dudes with bad teams, who are depsperate to a.) find a diamond and b.) block another team out. And you can still do it by Yahoo rules, but there's a cost: when your backup QB goes down to injury that week, just before your starter's BYE, and you're at the end of the waiver line because you prevented another team from adding a guy you've now got on your bench, well you're farged and it was you who farged you.
In your case, Havas the penalty (and the alleged awesomeness of everyone involved) should be more than enough to keep the competition level. Giving waiver wire advantage to poor performing teams isn't necessary.