If the Super Bowl were played in March the Miami Dolphins would be Super Bowl Champions, but unfortunately for Dolphins fans it is not.  The cap healthy Dolphins have been busy in free agency trying to improve a mediocre roster and from what we’ve seen so far, it’s working.  The Dolphins may have overpaid for some of their key free agents, but why work so hard to build the cap space if you’re not going to spend some of it?  The Mike Wallace signing was critical for a previously stagnant Miami' offense and the signing of linebackers Dannell Ellerbe and Phillip Wheeler was a good move for two reasons.  First, the Dolphins got younger by releasing incumbents Karlos Dansby and Kevin Burnett and second, they took less of a cap hit by making the move.  Did the Dolphins overpay for their new deep threat and linebackers?  Perhaps, but it was a planned calculated gamble by Dolphins general manager Jeff Ireland.

The Free agency period has not passed without casualties.  The Dolphins were out bid for Pro Bowl left tackle Jake Long who signed with the St. Louis Rams.  They also lost out on cornerback Sean Smith and tight end Anthony Fasano.  Fan favorite Reggie Bush is also gone.  The departures leave the Dolphins with more holes to fill but they have the cap space to make a few more moves before the draft in April.  The addition of Wallace will open up the Miami offense and allow quarterback Ryan Tannehill to hit the deep strike and keep defenses honest.  Tannehill has the confidence of the coaching enough to build the team around him.  Tannehill’s ability to throw the deep pass is stellar and the reason the Dolphins were desperate to sign Wallace no matter the cost.

The departure of Bush will surely hurt Miami’s offense, but Wallace’s presence should open up the running game.  The Dolphins are high on second year running back Lamar Miller who showed promise last season in his rookie campaign.  Perhaps some of the more important free agent moves the Dolphins made this offseason were the signing of wide receiver Brandon Gibson, tight end Dustin Keller and the re-signing of wide receiver Brian Hartline.  Hartline had a breakout 2012 season and was clearly the Dolphins best receiver.  The addition of Wallace should allow for Hartline to have another outstanding season.

The signing of Keller and Gibson complete the newly revamped Miami offense.  Gibson is a versatile receiver that can also line up outside.  The signing of Gibson could spell the end of the road for slot receiver Davone Bess.  The Dolphins double-dipped when they signed Keller, not only did they sign a good tight end but they weakened a division opponent at the same time.

The Dolphins had a clear plan in mind at the start of free agency.  With most of the holes already filled the Dolphins can now turn to the draft with a much more narrow focus.  The plan makes a lot of sense for Miami. The Dolphins have five picks in the first three rounds and are prepared to hit the draft the same way they hit free agency.  Despite all the high-priced signings, the Dolphins are still in great shape financially.  Don’t be surprised if the Dolphins make one or two more moves before the end of the free agency period.  The Dolphins need another pass rusher opposite of Cameron Wake and they will need to find a replacement for Long.  The Dolphins may turn to the draft to fill these holes but Ireland is fighting for his job in Miami.  Look for the Dolphins to have one more ace up their sleeve before the draft.