I don't like UFA signings to begin with. Its a terrible market. Teams that sign UFA's are pretenders, teams that build a team on their own through the draft and trades are contenders. I would only sign players in the UFA market to fill out the roster, not major players.
The one exception is if a player like Tavares came onto the market. He's a 1C, one of the best players in the league, not like a Shattenkirk or Smith, players who get overrated once in their career because they are the big names on the UFA market. Tavares would've been worth spending the money on, but other than that, I would've stood pat, signed a few bargain players, and tried to rebuild through the draft and trades.