To be honest, with Karlsson's showing at the World Juniors, I'd like to see the following happen:
At the deadline, trade Dany Heatley for a package of young roster player, blue-chip prospect, first round pick, and second round pick.
Then, on draft day, trade Vermette and if possible Fisher and Phillips as well. Assuming we are in the top 2, draft Tavares. It seems like he is going to be a 100+ point player in the NHL probably not even too far into the near future.
Take your other two first round picks and another mid-range prospect and move up again into the top 8 and draft yourself another possible stud forward.
Then on July 1st, with all the available money, throw Bouwmeester a 7 million dollar bone for 7 years before the clock even strikes 12.01.
The complexity of your team looks like this:
Alfredsson - Spezza - UFA
Blue-Chip (if forward) - Tavares - Young Forward (Heatley trade)
Winchester - Kelly - Foligno
Ruutu - Bass - Donovan
Bouwmeester - Volchenkov
Picard - UFA/Prospect (possibly Kuba at 4.25 million for two years)
Lee - Smith
Elliott
Auld
Then you are sitting on a cap hit of about 33.07 plus Tavares' rookie contract. You have enough to plug the lineup with a couple of decent veteran forwards, of which this upcoming free agent year, there are going to be a ton of. Of course, in the Vermette, Heatley, Fisher, and Phillips trades, it's completely plausible that you get some good young forwards or defensemen.
And then you go to work trying to fill out your roster with good veterans from the UFA crop. Go after guys like: Tkachuk, Cole, Morrison, Weight, Sykora, etc...guys who are proven in the league and who won't be asking for too much money or too much term. If you can snag one guy at 1 year 3.5 million and another guy at 2 years 3.5 million or so, you're in pretty good shape going forward.
With the additional money, it might also be possible to retain a guy like Kuba for an additional two years and buy yourself at least a year to fit Karlsson into the lineup.