I question all these Pens that think Hagelin can be offloaded to Vegas. His departure is very questionable. Same with Fleury, it's really just hoping he would agree to a trade.
It's easy to sign players when you have cap space. Try making a lineup with Hagelin and Fleury. To answer your question, I like the signings.

Well the pens will protect 4-4-1 which would be Crosby, Malkin, Kessel, Rust, Letang, Schultz, Dumoulin, Maatta. That leaves Vegas with not much to pick from since Guentzel & Sheary are exempt also and Bonino is UFA. The 3 options I see Vegas looking at are Hagelin, Hornqvist, and Cole. I'm in the camp that believes Vegas will actually need to take on some salary to hit the cap floor, they can't just take all RFAs on cheap deals. So I really think they will be between Hornqvist and Hagelin, therefore a 3rd rd pick seems like it could convince them to take the contract with more term, who is also a younger player more likely to rebound instead of decline like Hornqvist.

As far as Fleury goes, yeah he's gonna have to accept a trade proposal from the Pens. There's even a chance that he could be a Vegas candidate if he's open to it. Most pens fans are believing he's not going to screw over the team but who knows.

Caps/Pens series will be the decision maker for McPhee. He knows the Caps well and understands the circumstance. If Fleury can silence his demons and compete with Holtby the way Andersen did than I think it's a no-brainer for McPhee. He could select Grubauer, Raanta, and Fleury and have quite possibly the strongest net in the league next year, and then figure what he wants to do from there. Many people say "they will just go after a free agent" but that's a very risky move for a new franchise who needs a guy who has shown he can play a full season as a starter.

Blynasty is right about Fleury being taken/traded to Vegas solely based on his performance in the upcoming series. On the Hagelin end for a 4mil forward he doesnt produce as many points as one would think but hes usually not being used to produce. He's utilized primarily as a PK guy and it's been obvious the last few weeks how the PK has gone down without him in the line up. Hes fast and can get to loose pucks which helps him when he is on the attack. The guys in Vegas will also be thinking about their special teams and they'll look at what players excel in certain scenarios and how they want to fill out their roster.
IMO the contract offers are good. I think theyre a little high but not by more than 500k so theyre perfectly realistic.

I'm not sure if the third would entice them away from HQ. Hornqvist is clearly the better player than Hagelin, is only making 250K more on a short term deal, and is a very attractive trade option for Vegas at the deadline as an expiring Top 6 F. I gotta believe Vegas would take him if he's available, and it would take more than a 3rd to convince them to commit to Hagelin over him.

Hornqvist would leave after 1 season. I don't think Vegas would take him just to lose him after 1 season. Hagelin is younger and signed longer, therefore could contributemore to a new club and more likely to resign. Despite his struggles this year hagelin has been a pretty consistent double digit goal scorer. Not saying that is great but not terrible when you take into account his speed and pk ability.

That aside Dumoulin isn't signing a 7 year deal and your RFA contracts for Sundqvist and Pouliot are low. RFA tenders for them are a 10% increase so they will make more than they did previously.
I think you may need to package somehting else to get ward and murphy from Carolina. I'd rather have Pesce or McKeown. Murphy we'd probably lose in expansion draft so wouldn't be worth getting him.