I like the effort made to do this, even if Ottawa wouldn't agree. Seems to me it comes down to whether a 2nd rounder buys that much cap space. Based on the comments, sounds like that's a no, but points for effort.
One comment: it makes me wonder if we're on the cusp of a bunch of creative solutions to shuffle retained salary around and generate space. As usual with the NHL, they will be behind the curve on this. Some smart GM will do something plainly ridiculous and against the spirit of the rules, people will be up in arms, and the NHL will belatedly put limits on this and screw a couple of teams over unexpectedly.