We would get those picks the following draft if we ended up getting less FA than we lose this offseason. It depends on last season and I think we signed a bunch more FA than we lost. Maybe we can get some picks out of pity due to our general incompetence.
Supposedly it's a complicated formula based on both net losses in free agency and the salary difference of players lost as opposed to signed.
Compensatory picks are also based on this past season's free agency period and not the upcoming one, so any "bounty" we might receive from losing a lot of free agents this offseason won't manifest itself until the 2008 draft.