It all depends on how the Bills calculate "cash to cap." None of us really know much how it is calculated, except for the fact that we will never spend over the cap in terms of actual cash in 1 given year. The cap is 127 million this year, so the Bills won't spend over 127 million during 2009 when you combine base salaries, signing bonuses to new players, etc.
Cutting dockery is a wash when it comes to cap space. But, in terms of real cold hard cash, its about $5 million (base salary plus bonus) that is now off the books for 2009. Whether or not Ralph will spend it is another story. The Bills need to spend a certain % of the cap space, per NFL rules. I believe it is 86%. Wha scares me slightly is that with dockery, ralph can still "spend" the dead cap space to get us to the lower limit, without actually spending anymore real $.