I would agree with your thread title if I saw the team overpaying (this season) for players like Felix Jones, Mike Jenkins, or not parting ways with Sensi or Connors.
The verdict is still out on Doug Free, but I hope they stay sane and replace him after June 1st or as a June 1st elected cut after getting another OT in draft or FA to compete with Parnell.
They aren't desperately keeping the wrong guys yet - YES they are restructuring some risky players (Miles, Rat, etc) but that is to give the team that chance to turn around quickly.
Losing a pro-bowl player in his prime like Spencer would be a tough move. It is really a REBUILD or a go for it type league - and we still seem to be going for it, just in a cheaper fashion than in the past. I still say we are kind of in the 3rd year of a rebuild, even though Jerry never really would admit it (we nuked whole oline and cut a bunch of the bad boys a few years back).
When you have a QB with the potential to put it all together, like Romo (meaning ability to produce yards, TD's, make plays from nothing etc) - you basically stay in the hunt and try and keep your better players with that slim hope that things come together to make a run. Of course not everyone believes he can do it, which is a fair opinion, or, many believe that without an oline and running game to restrict his gunslinger mistake type plays, the odds of success are just that much lower.....
Who else would you cut though - who are we desperate to keep on roster? EAch guy you cut, you need to replace, and FA's cost a lot, or you end up with even worse contracts added to the dead money from the last ones......