The "tragedy" of this offseason is the loss of Nate Schmidt, who figured to join the top four, giving the Caps four offensively capable defensemen to play 70% of each game. So if they're going to burn their two remaining stay at home guys, it's probably not going to be for two other stay at home guys and a totally washed up offensive defenseman to take their place.
JM Liles scored thirty or more points for seven straight seasons. Unfortunately, the last time he did was nine seasons ago, as a 27 year old. He's now 36, and a #7-9 guy, who would be fine on a two-way deal, but probably wouldn't make it up.
Franson only broke thirty twice, but the last was only four seasons ago, and he's 29. He has 42 career goals. Not too shabby.
Eric Gelinas never quite got to 30 points in a season, but reached 29 points in 60 games, four seasons ago. He's 26. He has 14 career goals and 55 pts with two teams. So he's a younger, almost as good version of Franson, who might be way, way, way cheaper.
Jyrki Jokipakka is also 26, but only has 28 points in his career, including three goals. That's in three seasons, with three teams, including two midseason trades. He seems to have a reputation as a big guy, at 6'3", but Gelinas is 6'4", and Franson is 6'5", so I guess big is relative.
Roman Polak is 30, and peaked at 15 points last year. He's an okay defensive defenseman, but apparently not quite as tough as 36 year old Brooks Orpik (
https://www.russianmachineneverbreaks.com/2017/04/25/roman-polaks-lower-leg-was-broken-after-brooks-orpiks-bodycheck/). I would still invite him to training camp, because he might have healed, and his name would be funny on a pair with Christian Djoos, even if it's just for a preseason game. Probably another 2-way deal would be fine, though, if he goes unsigned.
For reference, Nate Schmidt is 26 years old, 6'1", and has eight goals and 43 points in his career. Gelinas or Franson would be an upgrade in size and offense, so they could each make a reasonable partner for Orpik, if the kids aren't ready to graduate.
Orpik is 36, with 16 NHL goals and 175 points. He peaked at 25 points in 2009-10, and put up 14 assists last year on the most offensively gifted team in the league, showing he basically still has the ability to pass the puck, but not necessarily to control which direction it goes. That's not what he's there for, though.
There's a lot of bellyaching on here about losing Schmidt, a lot of people cutting Orpik, and a lot of people wanting to sign Jokipakka, and I don't get it.
The reason to cut Orpik for cap space is to use that cap space on a different style of defenseman, like the groups of all puck-moving guys that Pittsburgh won with the last two years. The Caps have done pretty well with Orpik in the lineup, winning two out of three President's trophies, establishing the best penalty kill in the league, and developing Nate Schmidt into a decent player. The reason to move on from him would be to get younger, faster, and more offensively capable. Franson and Gelinas fit that role. Liles and Jokipakka don't. You don't go to the trouble of replacing Orpik and Chorney to get two other stay at home guys who cost a bit less, aren't as tough, and don't know the team's plays yet.
Adding Hudler is fine, but at 1.5M, it does mean they have to get rid of Orpik, whom the Caps' management seem to view as a cornerstone of the franchise until the day he hangs up his skates. And they might be right. Last year he was fifth in the league in plus/minus (
http://www.nhl.com/stats/player?aggregate=0&gameType=2&report=skatersummary&pos=S&reportType=season&seasonFrom=20162017&seasonTo=20162017&filter=gamesPlayed,gte,1&sort=plusMinus,points,goals). I think we're all thinking about moving him after three years because when he was signed to a five year contract as a 33 year old, that was the expectation. But he's exceeded it, and remained a dependable source of hits, poke checks, outlet passes, and nastiness. It just hasn't had the desired effect of beating the Penguins, even though he has been particularly nasty to his old friends, even earning a suspension for giving one a concussion.
So I would consider moving on from Orpik if another team feels he can get them into the playoffs. I think he could be a piece of a puzzle toward a trade for Duchene, or another talented young player to help the Caps reshape their identity into more of a skill team, and then add younger, more skilled defensemen through free agency or from within. It sounds like they have five or six internal candidates for two spots, right now, with the expectation that Chorney qualifies for regular minutes. That's probably reasonable, if Chorney and Orpik, two slow, tough guys with little offensive upside, are still the kind of defensemen they want. If not, what is it about Jokkipakka that's got everybody so excited, aside from his name?