Totally agree. They need to go all in and if they are in cap hell a few years from now then so be it.
There is no doubt that Allen is gone. They cut bait with Woodley and will do the same with Allen. And they will be free of Woodley's and Polamalu's contract. So they will free up a bunch of money. This past season they had 19.5 mil in dead cap. For 2016 season, so far, they have 765k. They will have the room to cut Allen and Suisham.
I think they will resign Gay if he is willing to sign a reasonable contract. Like the same as what he makes now, which is 1.5mil. Maybe 2 years, 1.5mil each. He is 31 and only a serviceable nickel or backup. He isn't gonna get many offers.
Boykin will be gone because of the way he was handled by the Steelers. He won't want to stick around.
I think the Steelers are certainly primed to go out and make a splash in Free Agency for a capable CB. Just like they did with Farrior and Hartings back in the day. They won't go crazy but there are certainly plenty of capable corners available. And one of them will jump at the chance to join a team that is so close to a championship.
Except a lot of that is tied up in raises already (Ben, Timmons, Decastro, AB).