For those interested in trying to understand how salary cap exceptions work, I've put together a chart to help explain how they operate. The chart can be viewed/downloaded in Word format or as a PDF (for now - I'm investigating other formats for future access).
It's large - 17 x 22 - but walks you through the process of determining if a player transaction is legal or not. My hope is that it can serve as a educational tool that can supplement existing tools, such as Larry Coon's FAQ.
Here's a direct link to the PDF, if you don't want to wade through the several paragraphs of explanation that are part of the full blog post
(Special thanks to douglast, Norsktroll and Ben, whose suggestions regarding the 'beta' version of this chart were extremely helpful)
EDIT: It's always one more thing, isn't it? I took another look at the chart this afternoon and realized that I had left off the option of using the disabled player exception in a trade. That error has been corrected. So, if you downloaded the chart either in Word format or in PDF format before 3:45 PM, you have the 'old' version. FYI....