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I see your point. Well managed teams will always do better when conditions are tight. But I think for the most part, teams now do a much better job controlling their cap situation.The increase in cap room is NOT good news for the patriots. The more severe the restrictions on teams (including cap), the more advantage the patriots have compared to other teams.
The 2014 cap bonanza might actually help a team like the Pats who are always within 5-8MM of the cap limit more than teams who are perpetually over 20MM unswe. Overpaying is still overpaying and the fact remains that very few "impact" FAs are ever worth the dollars they are paid, even when they aren't busts.
While some teams will use the Bonanza to make headlines and sign a single"star". The Pats will likely use the money to reward a larger number of the "middle class" and keep a strong corps strong over time.