Another thing UFA college kids are likely looking at is not only the depth of their position in a certain club, but also if the team is a regular contender and has thus missed out on the ability to fill the pipeline via the draft.
I think Aston-Reese, for example, made a very intelligent decision in signing with Pittsburgh. It's a team that constantly has problems with offensive talent on the wings, because so much money is wrapped up in the big horses (one of them being a wing). He had to know that he'd prolly get a shot somewhere along the way and that it may even come with a Crosby or Malkin. Now it's happening.
One guy who I feel DIDN'T make a smart decision was Spencer Foo. He went to a team that was already heavy on the wing (especially the top 6) and also had a number of younger offensive prospects on the cusp of breaking in. He went to a spot with a lot of competition. Gotta think he'd have had more of a shot right from the get-go had he signed with several other clubs.