I think most people realize that the Rangers are currently not a cup contender. I wouldn't really say that they are on the decline, they have a good young forward core. However their main problem would be defense, and that would be tricky to adress until four or five years, unless they want to buy out Girardi or Staal or give up from their forward core. So for five years I'd say the Rangers will be an above average team. However in maybe five years, they can go all out since their forward core will be in their prime, and they have offloaded Girardi and Staal. They could be a huge threat. The only question then would probably be goaltending.
I'm just surprised that Vesey didn't join a contender immediately. I guess Hayes and the city itself were very large factors.
Edit: Oh, and you guys should seriously fire Vigneault.