Keep in mind that if you lost a free agent, but signed a comparable one for about the same money, you probably won't get a pick. Case in point, the Devils lost Joe Nieuwendyk but signed Igor Larionov, and did not receive a pick for Nieuwendyk.
Theoretical 2004-05 salaries in parenthesis:
Boston -
RW Mike Knuble (2.0), C Michael Nylander (2.9), D Sean O'Donnell (1.7), C Brian Rolston (3.2)
Going off the old standard, the B's might expect to get a very late 3rd rounder for Brian Rolston, a high 4th rounder for Michael Nylander, and a late 4th/high 5th for Knuble and O'Donnell.
Calgary -
C Craig Conroy (3.15) - Same as Rolston, late 3rd/high 4th.
Carolina -
D Sean Hill (2.0) - 4th
Dallas -
D Richard Matvichuk (2.2) - 4th
Detroit -
RW Brett Hull (2.25) - 4th
G Dominik Hasek (2.0) - 4th
Edmonton -
C Petr Nedved (2.7) - high 4th
Philadelphia -
RW Mark Recchi (might not get pick if Knuble/Stevenson are considered replacements) (3.0) - low 3rd/high 4th
San Jose -
C Vincent Damphousse (2.0) - 4th
C Mike Ricci (1.5) - 5th
Tampa Bay -
D Jassen Cullimore (2.3) - 4th