I would go with the 87 as well, was thinking this:
15 Slots
86 and lower = 1 slot
87-89 = 2 slots
90-92 = 3 slots
93-94 = 4 slots
95 and up = 5 slots
My team, for example, would look something like this:
C Ron Francis PLY 91 *Legend* = 3 points
C Dave Keon TWF 89 *Legend* = 2 points
C Milt Schmidt PLY 89 *Legend* = 2 points
So my top line would cost me 7 points. I now have 8 points left to spend.
RW Brent Burns PWF 87 = 2 points
D Niklas Kronwall TWD 89 = 2 points
D Alexander Edler TWD 85 = 1 point
RW Nathan Horton PWF 86 = 1 point
C Nazem Kadri PLY 85 = 1 point
C Ryan O'Reilly TWF 84 = 1 point
That would be all of my points used to keep a total of 7 forwards and 2 defenceman, or 9 players in total. If we made goaltenders a part of it, Ed Belfour G 89 would cost me 2 points and I would have to choose to lose either Burns, Kronwall OR 2 of Edler, Hornton, Kadri and O'Reilly.
Now, to prevent people would just stock-piling guys who are now 84 to 86, we could do a system something like the following:
20 Slots:
83 and lower = 1 slot
84-86 = 2 slots
87-89 = 3 slots
90-92 = 4 slots
93 and up = 5 slots
Looking at my same player comparables, my team would be the following:
C Ron Francis PLY 91 *Legend* = 4 points
C Dave Keon TWF 89 *Legend* = 3 points
C Milt Schmidt PLY 89 *Legend* = 3 points
Top 3 would cost me 10 points. Now, if I wanted to, I can protect 10 players who are rated 83, OR spend more points to keep better players.
RW Brent Burns PWF 87 = 3 points
D Niklas Kronwall TWD 89 = 3 points
D Alexander Edler TWD 85 = 2 points
RW Nathan Horton PWF 86 = 2 points
C Nazem Kadri PLY 85 = 2 points
C Ryan O'Reilly TWF 84 = 2 points
Those six players would cost me 14 points, so two would have to go into the draft. I would still prefer that goaltenders be auto-protected.
With my second option here, the keeper slots can be upped, but I think that if you made guys 93 and over be worth 5 points, and you have 20 points to spend, you can either try and play around with it and build a team with some depth or a mix of talent and lower end guys you just REALLY like and don't want to lose, or go for broke with 4 top tier players (not even enough for a full line).
Obviously, making decisions like that be up to the GM places are more involved process for members on the site to enjoy and strategically build their clubs.
Thoughts?