Spector's commentary on the Rangers' cap issues (link below) notes the following about the direction of the cap ceiling:
SPECTOR'S NOTE: The problem with that is the uncertainty over the status of the salary cap in 2010-11. If the cap declines to $52 million or lower it could seriously handcuff the Rangers if they commit too much to salary or long-term contracts. It could significantly reduce their action and influence in this summer's upcoming UFA market.
This of course will be the Kings' problem, too, if they make a big signing this summer (e.g. Hossa), and it will affect the Frolov negotiations as well.