Quick and dirty:

Roto is about building the most balanced team possible - best training ground for beginners
H2H gives a weekly satisfaction of beating someone, unlike roto where you have to wait until the end of the season to get a winner. You also don't have to win all the categories all the time, opening up opportunities to "design" team builds through various strategies (like punting)
Points leagues can be either roto or H2H (normally H2H) and filter valuations that are weighted towards specific categories.

H2H is the most popular in the circles I play in. I have not tried playing in a points league, which reminds me that I should, one of these days.

You mentioned "auction." That's a draft type. Common is snake draft but in auction every team can get a shot at owning anyone (as long as they win him), which takes away the random "luck factor" of getting an early pick in a snake draft. It's a more complex drafting mechanic but far and away my favorite.

@erikong I've mostly done snake drafts but you're saying you like auction better and mostly play in H2H cat leagues. Interesting to know, so thanks.

I think I'll just stick with doing H2H cat since it seems to be the most popular and not rock the boat (if it ain't broke). When you want to dive into a points league, lemme know when you do cuz I'd love to join ya and pop that cherry and try it out.

Also, which do you prefer, weekly or daily roster changes and waivers being processed that day or the next day (I've only ever done next day in all leagues I've played in, minus football for obvious reasons).

I used to prefer daily roster changes, thinking it saves weekly matchups from being lost due to unfortunate mid-week injuries, however, since I play in so many leagues every season, I’ve grown to want at least half my leagues to be weekly roster changes to preserve my sanity.

For adds, I most commonly encounter “tomorrow” but my preferred is “today” with FAAB and all players are on waivers.