I love Frederick and Thomas. Those would be home run picks to me. I don't think there are 60 picks worth of difference in Chase Thomas and Ryan Kerrigan. Montgomery is a good player too.
I assume that you are lowering Free's base salary down to $2.5 or $3mm where it makes it more difficult to cut him, but he can't make a $7mm base next year.
I'd much rather keep Scandrick/Spencer over FreeByrd.