I think it has a bit of room still to go up before plateauing.
After all, some teams were giving ticket discounts to lure fans back from the lockout. It sounds like ticket prices are going up in most cities. And if gate receipts are the most significant portion of NHL revenue, then I could see that translating into a teensy bit of an increase to the cap for next year. Not as much as this year's $5M jump, though. Maybe $2-3M more, then a plateau is reached.
if the cap goes down, many teams will be in big trouble, including us...
How? Habs have actually very flexible salary structure, with only 9 contracts and 21-22 million tied up after next year. Trimming down to, say 40M, should be quite easy, compared to some other teams. Teams like Carolina, Vancouver, Tampa and San Jose, who have already over 30M committed for 07-08 season, would be in much bigger trouble to keep their core team intact.
I think attendance will be down next season (2006-07) and the cap will go down the following season (2007-08). People came this past season because they were eager to see hockey again, inflating the revenue.