Posted in another thread - but probably more relevant here..
I have been weighing up the pros and cons of this strategy and knocked up a bit of a spreadsheet to help plan for loophole opportunities.
Basically all you need to do is select your permacaptain's team from the drop-down box at the top and it highlights for you your potential VC and donut options for future rounds, enabling you to pick the best starting floating donut according to your permacaptain's draw.
Once you've selected your floating donut player, enter his team across row 6 and it will firm up your VC options, giving you a selection of teams each round from which you can select a VC
If you're not going to be picking a rookie in your starting squad and are just going to be winging it (like me), for each round once a donut is confirmed (ie. player in your squad suspended, injured or dropped) enter their team name in row 6 above the corresponding round and it will highlight which teams you can select your VC from.
If you download the sheet, you'll note that i've got it set as permacaptain Ablett (GCS) and confirmed donut SJ (GEE) in round 1 - change it to whatever is relevant for your team - therefore VC can be selected from Adelaide, Brisbane, Carlton, Essendon, Fremantle, GWS, Richmond, Sydney, West Coast and Western Bulldogs.
Please let me know if you notice something that's not working correctly and i'll try to fix it (had a few wines while knocking this up so no doubt there's something wrong with it!).
http://www.mediafire.com/view/?dgjhwbxfhhjnso6