There should be a science to cap management and recruitment and retention in a salary cap system, it's critical. Think MoneyBall and Billy Beane as that's actually how the world really works, buy $1 of talent for 90 cents and you are on a promising track. Buy $1 of talent for $1.10 and you are going to have poor results (unless there is no cap and you have more money than other clubs)
I would like to know more about this space and the decision making going on as it seems like the decision making going on is terrible and it's so hard to understand why it is done this way. Take Milford, Bird, Boyd (saved by retirement.. but still) and the others on options. Milford for example is on say 1M and playing like a 500k player perhaps, that's 500k of salary cap space you have squandered and can't use on other players, if he was playing like a 1.5M player you can be certain the contract would be upgraded or you would lose that player in any event as the option is in the players (not the clubs!) favour.
Surely there has to be some logic to this randomness because from the outside looking in it appears as if someone has deliberately salted the earth over the previous few years.