Although I disparaged the many shortcomings of the current salary cap set-up, I don’t think that the NHL should simply cut the cap idea out of the league entirely. As there are negatives, there are also positives that can come out of such a system. The idea of level competition arising via the revenue sharing scheme is a solid idea and, in theory, creates parity.
Now, whether or not every club has an equal shot of winning the league is a debate within itself. The St. Louis Blues (in favor, due to going from worst to first) and the Ottawa Senators (not in favor, because we knew they were going nowhere) are examples of both sides of the argument.