Vegas would want more, (Sheary is not exactly a forward to build around, and Pouliot is looking like he will flop), and Bengtsson, Erixon, and Bleugar are not close to NHL players

Of course LV would want more, but they aren't going to get it. Pens will protect one of Dumoulin/Schultz (probably Dumoulin, although Schultz is having a great season) and both are eligible for arbitration and will be due significant raises (which LV may not want to pay). Pouliot hasn't played well recently, but is young, has some NHL experience, and is waiver eligible which at a minimum makes him reasonable trade bait for LV to improve their roster. Sheary isn't an amazing talent, but he's going to be better than most other available forwards, who will primarily be 3rd liners. This gives Vegas 2 reasonably talented, cheap players to either place on their active roster or use as trade currency. Pens may be willing and able to throw in a 2nd or 3rd round pick as well, but they're not going to give up better talent.

The team's nuclear option is to buyout Fleury's contract and sign a veteran backup who they could then expose, which is terrible, but not as bad as giving up even more talent just to keep Murray.

Totally agree that the three mentioned are developmental/replacement level players. Sprong should also be added to that list. ~$1.5 million in cap space would need to be used to pick up some cheap UFA vets, but that's an entirely separate exercise.

Pouliot and a first seems worth it to keep Sheary, Fleury, Cole, or whoever else LV could possibly take.

I'd give up Fleury AND Cole rather than give up a first round pick... but if Vegas wanted a 1st instead of Sheary, that may be better for the Pens (in the short term, at least). They aren't going to be able to afford better forwards than cost-controlled Sheary given the money tied up with Fleury & Murray.

FYI - I didn't put this roster together because I think it's best for the Pens to keep both goaltenders. Rather, if Fleury doesn't want to waive his NMC/NTC, the team literally may not be able to give his contract away.

CapFriendly GMs should stop waiving around 1st round picks thinking they are tremendously valuable. I encourage folks to take a few minutes to look at the players in the past 5 years that are drafted 25 to 30 in the draft that are significant players in the NHL. And Vegas wants to make an impact soon instead of waiting for maybe a playoff push with a pick 4 years from now.

First round picks in the NHL are certainly less valuable than they are in the NFL, for instance. But they're still valuable, but *especially* for a team that is at or near the cap. Having *cheap* effective players is much more valuable for a team like Pittsburgh or Chicago. Agree that Vegas wants to win now, which is why I think they'd be more than willing to take Sheary rather than picks.

The quality of past selections doesn't de-value the pick. And since when has any expansion team been anywhere near "win now" It took Columbus 15 years to become a contender, the ThrasherJets only made the playoffs one time in Atlanta and they're still rebuilding. Wild had that one freak season and made a playoff run on 3rd year but then they regressed and and had to rebuild a more solid core until they became stable contenders around 2006-2007. Preds made it to playoffs after 6 or 7 years I think but it took them way longer before they won a playoff series. With the youth movement in today's NHL, you pretty much can't be successful unless you build and reload your roster through the draft.

When those teams entered the league, teams were able to protect more players compared to the 2017 expansion:
https://en.wikipedia.org/wiki/2000_NHL_Expansion_Draft
1G, 5D, 9F could be protected, meaning those new teams basically started with an AHL roster. At least this time they get to start with a roster of NHL caliber players, even if it's mostly 3rd line players and 2nd pairing defensemen.

Anyway, getting off track: I think the Penguins would rather keep their 1st round pick and give up one of their forwards plus a d-man. LV would rather have talent now compared to a pick that may or may not be ready to play in 3 to 4 years. LV will have a decent selection of goalies and don't need Murray (although they would certainly take him if available), but they're hurting for forwards. This deal seems like a win-win for both teams.