I personally don't like his contract, and would prefer more cap flexibility going forward.
However that is not to say that I don't prefer the idea of a veteran mentoring one of our young goaltenders longterm. I think either Holtby or Neuvirth would excel far more with a veteran keeper behind them to step in when needed. In Luo's case a very expensive veteran.
What becomes quite interesting though is that if we play with the thought that Schultz goes to Vancouver in any deal for Lou, regardless of what other pieces that may follow, we would still only have added roughly 2-2,5 million worth of cap hit, with Jeff's contract out the window. That actually leaves some room for thought.
Of course the real concern is what pieces Vancouver would demand for Lou. While Lou has been good and certainly seen his value increase, Vancouver are in a bit of a problem with the cap, which to some extent limits their options. Prospects and picks would most likely be the main pieces in any trade for Lou.