It is. I wouldn't take the fact that they haven't entered negotiations yet as any sort of sign. We've let several other tenured veterans go to the brink of UFA before getting serious.
I guess we're mostly talking about Dupuis, here, but it's worth noting that Shero tried to better-deal him in the form of Iginla. When Iggy didn't work out as a top 6 forward, a Dupuis re-signing always struck me as a fall-back position.
In the case of Dupuis, there's not really any natural fit to backfill him. Our most-talented forward prospect is probably Sill or Kuhnackl, which speaks of how bereft we are in terms of skilled forwards. He was re-signed out of necessity because nobody else could do the job and a UFA forward would be more expensive and not necessarily better.
With Orpik, though, there are two defensemen (Dumoulin and possibly Ruopp) on the cusp of being able to slot into his exact role, and that's not including Despres (whom I expect to be traded somewhere down the line). Dumoulin and Ruopp aren't guys who are ready for NHL work 3 or 4 years from now. In a pinch, Dumoulin could play right this second.
I think the inestimable Darth Vitale is right on the money in saying the longer the Penguins go without engaging in contract talks with Orpik, the larger the chip on his shoulder will grow.
If he makes it to the trade deadline without being re-signed, he's going UFA. If he goes UFA, he'll get paid. Either by a club that's set to lose a left-handed defensive D like the Rangers (Staal's almost certainly going to Carolina when his contract expires) or Kings (Willie Mitchell is really, really breaking down and Regehr's legs are shot), or by a young team that would be ecstatic over the proposition of adding an outspoken assistant Captain with a ring (Edmonton, Colorado...maybe Buffalo or Columbus).
I don't think he's about to come back to us with an offer to knock $1 mil annually off the number they show him. Not after what he just saw Letang bank.