I can see both sides points.
Owners stance:The owners are losing a lot of money. The NHL is the only major north american sports league without a salary cap or luxury tax (AKA 'soft cap'). Player's salaries currently eat up an average of 75% of total revenue. Baseball, Football, and Basketball are all about 53%. The current NHL proposal (as reported) would bring players salaries down to that level. The problem is that only a small percentage of NHL teams (ie New York, Boston, Detriot, etc) can afford to compete for the top players. The rest can't afford the top guys, draw a smaller crowd, draw less revenue, don't win, and lose money. The labour cost in hockey (players salaries) will almost certainly cause some smaller teams to go under or relocate to bigger markets (ie-Calgary, Edmonton, Minnesota).
Players stance:The owners lack of self control has created this situation. It is not the players responsiblility to stop the owners from paying them too much. The players ask for more money, but it's the owners who decide to pay it. The players have stated they want the open market/individual owners to determine each player's worth (through contract negotiations) not some arbitrary salry cap number. They state that the market will keep the salaries in check.
I side with the owners on this one. Yes, it is their own financial mismanagment and irresponsibility that has caused the problem, but the game will suffer and is suffering in the markets I care about (Canadian), and I fear we will end up with 2 or maybe 3 Canadian teams in ten years if the cap is not in place. A more even playing field will result in smaller teams being able to compete with bigger ones more so than they are right now. (Go, Canucks, Go!)
On another note, I hope the season gets shitcanned so that the southern US teams go tits-up. The fans don't really like hockey anyhow, and who in my opinion disgrace the game with their stupid names, glowing pucks, moronic mascots, etc. Get rid of all teams in Florida, Nashville, Columbus, Dallas, Anaheim, and San Jose. The game will be better as there isn't enough NHL caliber players to fill all of the team rosters. That's why it's so friggin boring to watch the regular season. Seriously, have you seen those tards in San Jose with their "Shark Attack" thing? The fans make their hands come together like shark jaws.....disgusting.
Carry on, rant endeth.