I wonder where the Penguins would be if they applied that strategy.
They're an example that drafting well and injecting youth in the lineup (Guentzel, Sheary, Rust, Murray, etc.), making low risk-high reward moves (Schultz, Daley, Hainsey), and adding scoring support (Kessel, Bonino) to go along with the core is what brought them back on top.
They didn't have to be big spenders in free agency, have also lost some top players like Staal, Neal, Niskanen, and they still have remained contenders. It helps that their highest paid players perform. That's necessary for a team's success.
The penguins aren't the model of anything, they got lucky, period. They were able to sign Crosby to a twelve year deal, and Malkin to an eight year deal, and then the cap conveniently went up 13 million over the next 4 years. There were also two amnesty buyout periods after they signed their deals.
Kinda wouldn't seem so bad if the Kings could buy out Brown and Gaborik right now with no penalty, would it? The Kings would be in a pretty damn good position if they could do that, and that's without the cap going up a cent.