Here is my attempt at playing Greg Sherman this off-season. I've tried to be as realistic as possible. I am also not factoring in any trades.
1. Use the two First Round draft picks on Landeskog and Duncan Siemens (I'm assuming he will be avaliable at 11).
2. Resign the following players with these contracts (anyone else not mentioned is not re-signed. This does not include the guys on the AHL roster, just guys who say a bunch of time this year with the Avs. Sorry if I missed anyone)
Hedjuk - 1yr/3mil
Flash - 2yr/3.5mil
Jones - 3yr/2.25mil
Gally - 1yr/1.25mil
Wilson - 2yr/1.75mil
O'Byrne - 2yr/2mil
Porter - 1yr/750k (2-way)
Stoa - 1yr/700k (2-way)
Bordeleau - 1yr/600k (2-way)
Elliot - 1yr/1mil
3. Sign Josh Harding as the #1 goalie at 2yr/3.8mil.
4. Forwards will be a combination of: Staz, Dutchy, Radar, JMclem, Hedjuk, Flash, Jones, Gally, Winnik, CMac, Yip, Olver, Landeskog, Bordeleau, Mueller (assuming he doesn't return until Jan 2012).
5. Defense will be:a combination of: Liles, Quincey, EJ, Wilson, O'Byrne, Gaunce, Elliot, Holos.
6. Goalies will be: Harding and Elliot
I think this would be a competitive team with a bright future moving forward. Not sure how cap compliant I am with this roster.