Yesterday was the kickoff for the National Hockey League free agency signing period, and the clubs delivered with some US$400 million in announced contract signings.

Yes, there’s the annual outrage over “too much” money being paid out. It’s an idiotic gripe, especially in the salary cap era, and I’m not going to rehash fundamental arguments for why athletes get paid what they (rightly) get paid. As has been the case for decades, it’s a very simple formula: If the owners didn’t have it, they wouldn’t spend it.

The first day took plenty of marquee names off the market, but certainly not all, and that’s the biggest remaining story. Mats Sundin and Marian Hossa are still on the loose, as is Jaromir Jagr; they represent the three flashiest players who are now weighing some big-money options on the table. Once they’re signed, the excitement pretty much concludes. Pending their destinations, here are some highlights from the already-concluded moves:

- The Tampa Bay Lightning made the biggest splashes, even from before the official July 1st opening. They traded what turned to be a bushel of future draft picks to secure negotiating rights to Vinny Prospal, Ryan Malone, Gary Roberts, and Brian Rolston. They went 3-for-4, with all but Rolston agreeing to terms. Thus the Bolts illustrated the rewards and risks of paying for a brief window of exclusive negotiating rights to pending free agents: It worked beautifully for Malone and Roberts, who might not have come to Tampa Bay otherwise; it was an iffy investment for Prospal, who likely would have returned to his familiar stomping grounds anyway; and it was a burned draft pick (albeit probably a low-round one) on Rolston, who apparently didn’t give much consideration to the offer.

The above signings, combined with Radim Vrbata, Adam Hall, and the expected addition of Steve Stamkos, serves to re-vitalize the Lightning’s forward corps. The thing is: How radical a remake did Tampa Bay’s offense need? They did struggle with scoring last season, but that was mostly due to a lack of consistency from the second line. I considered the defense to be this team’s main bugaboo, really for the past two seasons, and it doesn’t appear that they’ve addressed that. I guess they’re planning on leaning on Mike Smith to blossom as a No. 1 goalie, with newly-signed Ollie Kolzig as mentor and insurance policy. The early read: Plenty of 6-5 games at the St. Pete Times Forum.

And, based on the way these moves are coming down — all from new owners Oren Koules and Len Barrie, with newly-hired exec Brian Lawton chiming in — we can expect to see General Manager Jay Feaster tender his resignation any day now, since it sure looks like he’s got nothing much to do anymore.

- Speaking of defensive moves, the Rangers and the Blackhawks scooped up the notable impact players in Wade Redden and Brian Campbell, respectively. Chicago needed the boost more, as their returning defensive unit is shorter on experience.

- The goaltending shuffle was a bit staid, mainly because none of the available netminders were considered high-profilers. Washington is placing a pretty big bet on Jose Theodore, who’s see-sawed over the past couple of seasons. Cristobal Huet’s arrival in Chicago means the Blackhawks are looking to either shed incumbent goalie Nik Khabibulin, or else put enough heat on him to get him back to top-flight performance (which he might have anyway, considering he’s entering his contract year). Other moves, like for Kolzig, Patrick Lalime, and Andrew Raycroft, are primary backup-filler.

- The New Jersey Devils brought back alumni Rolston and Bobby Holik, meaning they’re ready to contend for the Stanley Cup — in 1995.

UPDATE: And just as I post this, this unlikely bombshell hits: Marian Hossa signs a one-year deal with the Detroit Red Wings.