Let me know if I've got the wrong end of the stick on this;
Just completed the 03/04 season and the 04 draft - went to the FA screen and the firs thing that catches my eye is Pekke Rinne with 5 star potential as an FA available on a minimum contract - I check his wikipedia and it says he was drafted in 04 by Nashville. However, he was not included in the draft class (otherwise I'd have picked him if he wasn't picked by the AI) - is that a bug?
Following that, the next thing to catch my eye was some other familiar names, players that I had drafted in the 04 draft appearing as FA's via the FA centre, as you can see here from D.Girardi's player card:
There is also youth players that I started the game with (as in, I didn't draft them at the end of my first full season) such as Methot: