It was a good day for Burke. In theory.

I think this is a good summary:

"We're positioned well from a cap standpoint. We intend to be aggressive this summer on a lot of different fronts," Burke said.

The Leafs also shut down red-hot goaltender Vesa Toskala for the rest of the season so he could undergo hip and groin surgery. He'll be replaced by ineffective Senators netminder Martin Gerber... Toronto, then, has weakened itself considerably by removing two of its top four scorers and its No.1 goaltender.

That, despite Burke's protests that his team will strive to win every game, will make victories difficult down the stretch.

Toronto also went from having two picks in the first four rounds to having five, with the possibility of a sixth.

"This is an opportunity to put some draft picks back into the hopper. It was an important part of the rebuilding process here," Burke said.

(edited from The Star)

Not much bad you can say about yesterday. Leafs are definitely in a far better position to get into a draft lottery position (thanks Ottawa), and our cap situation will be excellent going into the summer.
The only question now is will Burke make the most of these draft picks? Something we won't know for a few years, so for now he either gets the benefit of the doubt or he doesn't, depending on who you ask.
I happen to believe, and history has shown, that great players come from any round. It's hit and miss. So the fact the Leafs have more darts to throw on draft day probably increases the chance of getting at least a couple of good NHL players, maybe even great.