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70??
Since you have to keep 27, that makes an average PB of 2.59. That's a lot of part timers.
The salary cap usually effects 1 or 2 teams but that's because others close to the cap make trade adjustments to get below the cap. Perhaps there needs to be a slight lowering of the caps, maybe 5 or 10 points, but lowering to 70 is not realistic.
I think what needs to be adjusted is how the PB value is created. I feel some players get an inflated value because they have a lot of AB's or IP's. Obviously, a player that plays a lot is more valuable than a part timer, but the PB value seems heavily weighted towards playing time instead of skill. Two players can have equal PB value but have very different skill levels. Most of the time the player with the better skills is more valuable, even though he has 50 less AB's.
Perhaps fixing the PB to reflect realistic value instead of messing with the cap would be better.