I'm not going to go so deep into the dollar figures...
Giguere: Seems to be a pragmatic thinker, along the lines of Niedermayer and Selanne. Like those two, I'm sure he sees the value of a lifestyle and career location that he's comfortable with, rather than simply chasing down the largest dollar-value contract offered. I think as long as Burke doesn't low-ball him, he'll be sticking around.
Selanne: The 14-year old with the Selanne-Jets jersey inside of me is screaming that he won't retire, that he'll play another season at least. Realistic, he always said that he wasn't going to be a guy that you saw playing well into his fourties. He has a lot going on outside of hockey, and this may be the best time to walk. However, as a competitor it's gotta be tough to walk away from the sport when you're one of the best there is. I'm 60-40 right now, with 60 being him returning for the same structure as last season.
O'Donnell: I thought he was fantastic as the number-4 alongside Pronger. However, you're paying for what they're going to do, not what they've done. I wouldn't be too excited to give him a raise, simply because I'm not sure how much longer he can keep it up. Niedermayer's decision may impact it as well, since his departure may mean you'd want to keep more of the leadership core intact going forward.
May: Did a great job. Don't need him for the regular season though, so I don't think he'll be resigned.
Jackman: If he'll sign a number 6-level contract, I'd be fine with him returning, assuming they got a good feel for him in the room.
DiPenta: Perfect 6-7 defenseman, resign.
Thornton: Agreed, seems to be great character guy. I'd take him over May.
Motzgo: Can't really say. Didn't look too out of place in the Finals, may be a nice bargain. To me, it'd depend on what the scouts and Portland say about him.
If Selanne Goes:
Kunitz-McDonald-Smyth (wildest dreams)/ Ryan (developmental leap this off-season)/ Miller (if he has a great camp, can play that wing...obviously no longer the top line)
Rotators/Reserves: Thornton, Parros, Miller, Motzgo, Shannon, Brent
If Nieds Stays:
Rotators/Reserves: Rome, Mikkelson
I like Hannan but not Rafalski... and only at a reasonable price.
I also wouldn't pay Smyth the 6.5 million x 6 yearshe's going to get from some noob GM. I'd buy low and try to get Bertuzzi on an incentive based deal.
If Giguere leaves we should keep Bryz/Hiller and upgrade our offense or defense... depending whats the better buy.
If Niedermayer retires, I'd go after Jovocop to replace him. No way he's as good offensively but at least he'll be nearly as good defensively. I'd also try and get a more fluid guy like a Rafalski/Morris/etc.
Personally the only reason I could see selanne wanting to return is:
1) Rest of team is intact
2) He wants to play w/ Kariya and try to win a cup together in Anaheim
However, the key is Niedermayer, replacing him is more difficult than Selanne or Giguere and will take multiple moves (we'll need at least 2 top 4 defenseman).