Please tell me how it is the Aquilinis are "cheap". I said this in a post in another thread, perhaps even this one.
The Aquilinis have time and time again had the generosity to bury contracts in the minors, those of which have significantly surpassed the 4.2 for a Ballard buy out.
Moreover, in regards to Luongo, why pay someone 42 million dollars when they are clearly still able to play, and perhaps ~may~ still be able to win a vezina trophy? Yes Schnieder is younger, he may be better as well, but not by 42 million dollars worth.
Aquilinis are doing everything they can to win, but if you are the GM and you can save money and its not going to make your team very much worse, if at all, you do it.
Lastly, Ballard will be bought out, for sure, however why not give it a go on conventional waivers and see if maybe you can get someone to take the bullet for you, seems like a wise move to me.