A top 10 pick at least for Hjalmarsson? seems a bit much

Toronto could do it

I can see what you're saying because he's not flashy, but he's arguably their 2nd best defenseman right now. He's the shutdown Dman you need. If you have a puck mover and him...solid top pair...on obviously a Cup Winning Team. He's not going to get the money a puck moving/scoring Dman gets, but you need balance. He's just so responsible defensively. it'll need to be the 1st rounder for sure.

I like the Hjalmarsson trade the biggest issue is you raised the cap 2.5M and still can't fit in the 3M+ of bonuses Chicago owes. Try taking out Smith and putting in Kero instead an you might just solve your issue

Hjalmarsson only has two years left his contract. A rebuilding team likely isn't giving up a top pick for him....and then a contending teams has to fit him in their budget (without sending money back to the Hawks.
Hawks aren't going get playing value for Hjalmarsson . Watty's trade (or a similar one with another team) might be about the best the Hawks can manage.

And Kruger. Sure Arizona has cap space, but how many teams do, without sending money back to Hawks? You've signed Smith at 2.5m to play 3rd centre, but think Arizona will trade a third rounder for 3.1m Kruger.
Arizona and Smith would be better off signing a 3m deal. Or if the Hawks really want the cap dump of Kruger, Arizona sends 7th rounder to Hawks and the Hawks say thank you.

I don't like the Kempny for Nolan move. Kempny is better than Nolan.