As it stands now, Devils have to expose Cammalleri to meet the 40/70 requirement unless they extend one of Bennett, Noesen, or Josefson.
If they expose Cammalleri, they have to decide between protecting Josefson, Bennett, and Noesen OR another defender.
Given how much they used Lovejoy, I would be surprised if Shero/Hynes decided to protect him rather than protect 3LD (Greene, Moore, Merrill). Plus I would hope they are attempting to upgrade the LD position which would make protecting 3LD quite useless.
Extending one of those 3 is really simple, so that's really a non-issue.
I could see Cammalleri being exposed - not that the Devils don't want him for next season, but I'd be a bit surprised if Vegas took a 35 year old injury-prone player with a big contract that's coming off a disappointing season. He certainly doesn't figure into either team's long-term plans.
I guess the "good news" for the Devils is that they do have few offensive players beyond Hall, Henrique, Zajac and Palmieri worth protecting so they do have some flexibility to go 7-3-1 or 4-4-1. I just think it's a matter of who they acquire before the expansion draft that dictates which direction they go.
I'd actually be more shocked if they didn't make a trade prior to the expansion draft and just protected what they have now, that is almost makes it pointless to try to figure out who they will/won't protect. Though as of now, I'm hoping for:
Hall-Henrique-Zajac-Palmieri
Severson-Greene-Merrill-Defenseman picked up in trade
Schneider
A 3rd and a 4th seems silly. Even if you think Eberle is soft or whatever that's peanuts for a legitimate top-6 RW. I can't believe they value him the same as Yakupov, a guy who really never produced and was getting healthy scratched.
Does seem like a rather light asking price, though it's partially also a salary dump as well since they need to resign Dras and extend McDavid. His playoff performance didn't help at all either and any team trading for him also has to protect him in the expansion draft, which also hurts his value. So maybe a 3rd and 4th is not too far off.