Nope, not applicable. You can find a 2008 Civic or equivalent somewhere else. Again, a fungible commodity (especially one with and accepted value standard: KBB) doesn't apply to a pro sports free agent market.
It's an overpayment. If it solidifies the defense, it was worth it. If it doesn't, it wasn't. Simple as that.
I don't know a better way to put it.
Just because Orpik is an improvement over the recent dumpster fire of LD doesn't mean they should have overpaid for him. Fayne would have solidified the defense too. For less money, less term, and for a younger player whose play hasn't nose-dived in recent years.
Does anyone doubt Fayne would have signed the same deal as the one the Caps offered Orpik? More money, more years, and a more, or at the very least, equally appealing location.
The Caps should have taken note of what the Kings and Canadiens were able to do at the deadline. They didn't tie up their cap with overpaid and declining players, and they were able to add key pieces to their team that other contenders likely couldn't afford. Remember the Guerin situation the year the Pens won the Cup? The Caps were willing to pay more but couldn't fit him under the cap.
So, what's the best case scenario here? The Caps get an adequate 2LD for a year or two and then +3 years of bottom pairing play or worse? Guys like Orpik don't age gracefully.