i don't know anything about bill wirtz other than his reputation, so i don't know how much money he had, if his ability to spend changed from the early 90s to the late 90s/early 2000s.
but from where i sit, he spent a lot of money in that '92-'96 period, before they let roenick and belfour go. they brought in a lot of vets, after hollowing out the expensive old core of savard, wilson, murray. so i think sure we'd like them to retain larmer, but i kind of see that as pulford doing a cost-benefit analysis and determining that he didn't want to invest in an older, declining player commanding the kind of money larmer would be commanding. i think you could also argue that he saw the writing on the wall in the late 90s for his core and thought he was better off cutting roenick and belfour loose and rebuild around hackett, amonte, daze, zhamnov, instead of treading water with a team that was never going to win it.
it would be consistent with the eventual chelios trade: "you can retire a hawk or we can trade you. but we're not bringing you back at your age and that money."
if i'm right, then maybe the 2010 is the same, except instead of signing hossa to that big deal they bring back havlat. and no campbell, but the savings from letting khabibulin might have conceivably gone to signing a cheaper defenseman. it's not like the teams of bill wirtz's lifetime were bottom of the barrel-bankrupt pocklington-type rosters. coming out of the lockout, they signed khabibulin, aucoin, and lapointe. all sorts of high priced stars passed through the crappy amonte/zhamnov/thibault years: gilmour, housley, fleury, coffey. i think philosophically wirtz was just against big, longterm max-type deals, like amonte was due for when they let him walk (and, of course he was an old coot who was allergic to catering to fans).