What is a good setup for a points league?

Home runs worth 4 points? 3?
Strikeouts worth 1 point. Walks allowed are -1.
That kind of stuff is what I am looking for here.

Also what about head-to-head points? Is that good or is it better to have no matchups?

I prefer full season to head-to-head... Yeah, you have the right idea for points with homers worth 4... Steals worth one, doubles worth two, singles worth one, etc. can do strikeouts for hitters minus one and walks worth one too... Saves can be worth three points and wins worth three with losses a negative one... Lots of ways you can go... Earned runs a negative one and innings a plus one, etc... Makes sure to balance hitting and pitching with however you go, and make sure it doesn't pay to punt relievers or starters...

Thanks.

If the league is free it'd probably be better to have it be head-to-head.

If it is a money league, then full season would probably be better. The top three finishers could win portions of the money at the end of the season.

Grey, you said "make sure to balance balance hitting and pitching and make sure it doesn't pay to punt starters or relievers." my head-to-head points league has been trying to achieve this for 3 years now. Tweaking things here and there to try and achieve balance... Can you help us achieve this? Last year's settings were this:
10 teams - C, 1b, 2b, 3b, ss, ci, mi, 4of, 2util, 8 pitchers, 5 benches
HITTING
R =2
1b = 1
2b = 2
3b= 3
HR = 4
RBI= 1
SB = 2
BB = .5
Slam = 6

PITCHING
W = 4
SHO = 3
SV = 3
K = 1
Pick = 2

What can we change or add to achieve the most balance?

If someone goes 2-for-5 with a double and homer and 2 RBIs, 2 runs, it's three times the score of a pitcher going eight innings and the win... That's not even... You need to add in ERA and WHIP...

Ah- I didn't even think of that... But how would ERA and WHIP factor in using points?

Walks allowed and Hits Allowed and Earned Runs allowed need point attributes...

I might just stick to h2h-categories or rotisserie.

Our h2h points league is pretty even. Pitchers have a little bit more value than hitters and SPs more so than RPs, but here's how we score it:

Offense:
1B = 1
2B = 2
3B = 3
HR = 4
RBI = 1
R = 1
SB = 2
CS = -1
K = -1
BB = 1
OF assist = 1
HBP = 1

Pitching
IP = 3
K = 1
BB = -1
HBP = -1
ER = -2
W = 7
QS = 2
L = -5
SV = 5

Your Losses being negative 5 makes things uneven...