I like this topic but its tough to analyse, because there are so many variables affecting the outcome.
For example, minimum salary restrictions will overstate the pay of marginal players, who get few minutes of ice time. Salary cap on the other hand means that team may not be able to pay the full worth to their superstars.
Some players bring leadership skills that don't necessarily translate to the ice time they get, etc.
A better stat to look at would be points per dollar.
Hasn't somebody done that before?
Yeah that has been done, but it is not neccessarily a better stat as most players bring much more to the table than points.
I think $$$ per minute is actually a descent way to break it down. You can see what a player is making relative to his teamates and then look at other stats to determine if it is worth it. Better method to compare scorers vs checkers than points IMO