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On the second day of National Hockey League general managers' meetings, it was the same old story — all talk and little action. Apart from approving the recommended changes on the instigator rule (suspensions will now follow after five transgressions as opposed to only three) and addressing a few house-keeping matters (teams were warned not to abuse the long-term injury exemption to get more salary-cap space), GMs spent most of the day, circling around each other, trying to lay the groundwork for trades.

It isn't just NHL fans that want to see more movement, the GMs are in the same boat, playing a game of poker, where the stakes are just too high for most right now.

"My thought is, we're in a new CBA and I'm watching it unfold the same way you're watching it unfold," analyzed Ken Holland, the Detroit Red Wings' general manager. "Internally, we sit there and discuss some things we'd like to accomplish. There are some people we like more than others. But if the price is too high for us on some of the better players, do you at some point decide, 'forget them, we'll go in a different direction?'

"Certainly, we're having talks, but I'm obviously not there yet because I'm not out here announcing a deal."

The Wings are an example of a team learning to abide by the limits of the salary cap. In the past, Holland could add virtually whoever he wanted to, provided he had the assets to trade for help in the present. In general, Red Wings owner Mike Ilitch would always OK a trading-deadline acquisition, everybody from Wendel Clark or Chris Chelios to Robert Lang or Larry Murphy.

"We had good players, but we also had the advantage of heading out in the summertime if we had a need," remembered Holland. "Now, in the new CBA, everybody's spending the same."

Holland paused. "I don't know if it's more fun."

No, it probably isn't. Holland is after a physical upgrade up front after losing Brendan Shanahan to free agency last summer. Some of the names linked to the Red Wings include the Blues' Bill Guerin and Keith Tkachuk, or the Panthers' Todd Bertuzzi and Gary Roberts, all of whom would probably require a premium prospect or draft choice in return. The Blue Jackets' Anson Carter could probably be had cheaper; while Freddie Modin is probably going to sign a new contract and be off the market soon. The new name that everyone seems to be nibbling around is the Blues' Jamal Mayers. So far, nothing that's been presented to him has convinced Holland to mortgage the future for help in the present.

"We have some kids who we think are going to be players, but you can't just give away your two or three best prospects to take a one-year run at the Stanley Cup," said Holland. "This thing starts all over again in September. But at the same time, when you think you've got a chance, you want to send some assets towards that team, whether it's giving up draft picks or maybe you do (give up) one of your prospects, maybe your fourth-best prospect. That's what you're trying to weigh up over the course of the next week."

Traditionally, the Buffalo Sabres were at the other end of the spending spectrum from the Red Wings. Not too many years removed from bankruptcy, the Sabres needed to watch every nickel. This past summer, after qualifying for the Stanley Cup semi-finals, the Sabres went almost right to the salary cap in an attempt to go for it all this season. Now, with six players on injured reserve — but everyone except Paul Gaustad due to return at some point this season — they essentially have little or no money to spend. Accordingly, any deal they make will see as many dollars out as dollars back in, or what was euphemistically known as a hockey deal back in the day.

"I don't know if that term exists any more," said Sabres' general manager Darcy Regier. "There are always some cap space dollars moving."

According to Regier, in the past, "if you could afford the player, you bought the player and salary might come into the mix a little bit, but basically, if the player was performing for those dollars that was OK.

"Now, you could have two players. One's making $5 million. One's making $3 million. The guy making $3 million is marginally poorer than the guy making $5 million, but because you can't afford the five, you pay more to get the three.

"That's what has turned it on its head a little."

In recent days, there's been speculation that Regier might unload his back-up goaltender, the popular Martin Biron, just to save his $2.1 million salary and spend those dollars elsewhere.

"The stance on Marty is more about choice," said Regier. "Our flexibility is so limited that it's really depth choices. It's, 'where do you want to buy your insurance?' Do you want to have it in your goalies? Do you want an extra defenceman? Do you want an extra forward? You can't have all three. Under the old system, you could have all three.

"If you made the decision like we did in the summertime, that you want to get the best/most players you can — or effectively, go to the cap — you've got to play it out. Or, I suppose, hypothetically, you could trade one guy who makes $3 million for two guys who make $1.5 million."

Good luck finding that sort of a fit. With the sellers collectively looking to hit home runs and the buyers squeezed by the cap, there was a lot of talk Tuesday — but you know what they say about talk. It's cheap. Rentals, it turns out, are anything but.