After looking at several sites on salary's, it appears the Kings could have significant room under the cap at the end of next year. At the end of the year their starting team salary should be around 56 million. The team has options on Moore, Williams, and Douby. Assuming that they don't pick up the options on any of them, which is highly possible, along with the retirement of SAR, their team salary could be as low as 36.5 million.
With the cap around 58 million this year, it would be safe to assume that the cap should be around 60 million or slightly more at the end of next year. That would give the Kings roughly 23.5 million under the cap to work with. Now they still have Cisco to deal with, and possibly the retention of BJax.
My point is, that even if they don't do anything with Miller, they should be able to make a fairly large move, if they desire to do so. I agree with Bricky that the Kings would be one of the few teams next year with significant cap space, which would be a huge advantage they wouldn't have at the end of the 2010 season.