Some quick notes on the "status" column you see on Player Lists (and I've noticed that it doesn't appear on the draft list selection - I'll add that soon)...
"Major" or "minor" league status? At the moment, everyone who was on the 40-man roster in December or gets signed to a major league contract gets noted as major league status. As players get officially optioned down in Spring Training, they'll be changed on the site (we don't catch them all, so there's one big update on Opening Day). If someone signs a "minor league contract" he's noted as minor league status. Same thing goes for minor league players invited to Spring Training.
For "DL" status, there are not necessarily official transactions right now for the disabled list, but as I learn of players who are expected to miss part or all of the 2009 regular season (Troy Glaus, Ben Sheets, etc.) I change their status. If you see someone out there you know will miss time and isn't listed that way, let me know. At this stage, I'm not changing status for injuries during the spring (so, for example, Bill Hall was recently listed as 4-6 weeks, but that's not necessarily going to cut into the regular season).
This is one part of the game (player status, trades and other transactions) where I'm not subscribing to a service, so that's why I always claim "semi-accuracy."
In a related note, does anyone know a link or source for all the current players on the DL - ideally something official? I use a combination of the transactions listings on mlb.com and usatoday.com for updating player status and I'm regularly disappointed with how many things mlb.com leaves off their transactions page (particularly guys coming off the DL). An occasional visit to a page listing all DL players would allow me to cross-check my info. I'm really looking for a list - NOT analysis - as I want to just be able to quickly scan it (so, for example, the injury page on ESPN fantasy is too much information and too cumbersome for this particular purpose).