Lou admittedly gave Leo a year too many - especially when there weren't any other suitors going that long (at least that we know of). That being said, Leo was what this team needed at that point. And its not like it was a major destination spot for FAs. If they signed him to a 3 year deal instead of 4, it would have been a fine enough deal.
But overall, as Islander fan, I'm glad he is/was here. Lou hasn't been perfect in the contracts he doles out, but in the present situation with Ross, there's no downside as far as the cap goes. If you want to get real granular and say that too many 4th liners are taking up our 50 contracts, I guess that could be valid....but that's pretty deep down the priority list.