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Point of the cap.
The point of the cap is to redistribute some players if one team ends up with all of them through the stupidity of other owners. If you really think about it, it only affects a couple teams, and for those teams it affect only 1 player.
I had one team that was 5 points over the limit. I released Izturis(sp) who wasn't that good, but was still young and played terrific D.
The cap isn't to keep you from making the playoffs, its to possibly help other teams make the playoffs.
For me, I'd like a tighter cap so that the game would be more difficult for the better owners.