1) No. On second thought, I wouldn't vote for this. It may cause the tanking to be even worse and the trading of good guys for now for good picks for later would also be exacerbated, creating an even bigger talent gap by seasons end.

2) Yes. A cap is needed, 120% sounds about right but I could go for 125.

3) Yes. This would make the FA draft better for both strong & weak teams. The decisions at cut down time would be a bitch but just look at the contortions MLB GM's go through to stay within their budgets. Also, the last day of the FA draft as it stands now is mailed in by many owners (I know, not by YOU) because the talent remaining is so pathetic.