Could there perhaps have been a deal between a group of players and a group of owners that didn't carry over to the full NHL-NHLPA gathering?
Think about it - there were all sorts of rumbling of the veteran players pushing for something (the Sakic's, Yzerman's, Roenick's, etc.) to be done. Let's say that group got together with six or seven owners and hashed out the $45 million figure that came out so often. Both sides think this is a great thing and that it will clear through the union. A bit idealistically, they think that solving the cap number will make everything else fall into place. The players involved start calling around spreading the good news (hence the optomistic outlook from the European based guys) and the owners start grinning and going back to their offices to get ready for the season.
The NHL/NHLPA, who it was really doesn't matter, gets wind of this deal and calls a meeting, each side thinking the other will propose and even if they don't, will accept this cap. Now at the meeting, they can't get the other things worked out. They're still miles apart on what "meaningful revenue sharing" means and what methods of arbitration would work in this new system. Somebody gets defensive, somebody else calls someone a bad name, and it all falls apart before they even get to what some people have agreed upon. And the hardliners on both sides flip out at the idea of having to (*gasp**shock*) compromise on their cap number that they use the opportunity to come out and disavow any knowledge of the agreement between the groups of players and owners.
Season's over. Everybody blames everybody else. We all