You said you liked other guys contracts better. My response is saying the long contract, 12 years, DOES NOT MATTER. It just doesn't. New York proved that. If he sucks, ala Redden, we'll work it out. Simple as that. Short deal, long deal, whatever. It's done and it won't hurt the team in the slightest. So it doesn't hurt, who cares?
I'm not going to damn the contract that works fine under the rules it was signed under. Nor speculate.
And if your worry is about being paid for 12 years, well, did you plan on inheriting that money or what? Why do you care if the last 2-3 years of his deal are a total waste? The last 3 years only combine for $4 million dollars. The last 4 only combine for $6.5 million (1.6 million per year). I'm glad you're looking out for Mr. I's pocketbook, but he'll be fine.
Do I think the lifetime deal was needed? No.
Do I think it matters? No.
I've made this exact same argument regarding Zetterberg's contract as well. I don't get the concern, other than it could be wasted cash. But even that could be argued as the cash at the end of the deals is there only to massage the beginning into a low number. Consider it a signing/loyal bonus if it helps you sleep at night, worrying about poor Mr. I's cash.
Guess who isn't sweating it!