Ok, but if they are adding (at least trying to add) elite players and staying in the Playoff picture if not outright contending for a title, how does that constitute "Hell"? "Cap challenged", 'Cap inconvenienced" maybe. But this year was the year everyone who believes in "Cap Hell" was sure the Saints would be in it, and it didn't happen.Cap Hell is a combination of dead cap and lost opportunities. If you have a lot of dead cap, then a good portion of your year's money is unavailable to you.
For instance, the Saints have only been able to sign one free agent this year. This means that they'll lose some players to free agency without much opportunity to replace them over time. This means that you HAVE to nail your draft for several years in a row.
The Saints have converted salary to bonus money so many times that they are unable to cut or trade any of their top 12-15 paid players because of the past bonus money (restructuring) would immediately become even more dead cap.
In order to get Watson, can they send the only thing they have left, their draft picks and very young rookie contract players? Sure... but then they have no way to fill holes except with UDFAs...
Has it ever happened to any team ever? At the very least, the term is an over-exaggeration.