Yes, they do hurt. They make it much more difficult to get under the salary cap sooner.
Perhaps you see no need to try to get under the salary cap sooner, but I feel that the Kings would benefit greatly from expediting the process. As a fan I would benefit as well, since I am much more interested in watching a team actively building towards a strong future than one that is patching holes and trying to make a team work as well as it can with what it has.
We COULD'T get under the salary cap sooner in any amount that frees up enough money to sign anyone else of value. This is my point and until you look at the salaries we had at the time of the signings, you won't understand that. I don't know how else to put it.
1) I'll try using this year's salaries as an example. I understand that this is not totally 100% accurate to cover three years back but I'm just not going to go through the hassle. I believe this will make the point:
Bibby .......$13,500,000
Miller .........10,500,000
Artest .........7,800,000
Thomas........7,331,250
Total ..........39,131,250
Then the salaries of the kiddies (roughly). This includes Hawes, Martin, Douby, Garcia, Williams, Udrih, Green, and Watkins.
................. $8,200,00,00
That's $47,331,250 already
2) Then add any three players that didn't use up the MLE. They would most likely have to be guys that got the veteran minimum or roughly $1,000,000 apiece. (As the veteran minimum is determined by years in the NBA I cannot affix a value other than this guess.) Also I personally think it is as close to impossible to get three veterans at the veteran minimum but will play along to make my point.
This all adds up to:
................. $3,000,000
Total so far ..............
$50,331,250
The salary cap is roughly
$53,135,000.
In other words, if we had not signed SAR, Moore, and Salmons we would be $2,804,750 under the cap. Name a difference making FA we could have gotten for $2,804,750. That's less than the MLE.
I know, I know, people can quibble with my stats and assumptions but I am merely trying to make the point that in relation to the salary cap, the signings of SAR, Salmons, and Mikki did not prevent us from signing a major stud of a free agent. We were always blocked by the salaries of Bibby, Artest, Thomas, and Miller and
that's just life in the NBA. We will be blocked until the summer of 2010 when we lose the salaries of KT, Miller, Moore, and SAR and even at that, we don't free it up penny for penny. Our own free agents, even though we aren't going to resign them, count against our cap space until they are signed by another team.
Take my word for it or read the cap rules.
If I have made any errors of significance, I'll change the figures.
Addendum: the only point that is pertinent is that we probably won't be able to resign Udrih unless he accepts the MLE or any proportion of it, of course.

(Irony, eh?) But let's say we don't re-sign Udrih: I think Bibby would be an adequate replacement.