I'm pretty sure the Leafs lost all confidence in Tellqvist after Montreal, especially after the display Aubin put on at the end of last season. I'm kinda surprised he wasn't flipped somewhere for a (late round) draft pick after the Raycroft trade.
I think Raycroft is mostly supposed to be a stopgap until Pogge is (hopefully) ready, which I'm guessing is still a season away barring injuries or whatever. And I don't think they wanted to waste too much cap space in net since Belfour's buyout will still count against them, so it should be in the $2 million range with Raycroft/Aubin assuming Tellqvist is gone, plus I think over $2 million still for Belfour. Giguere and Nabokov both have pretty big contracts and the UFA goalies like Gerber and Legace would probably get somewhere near $3 million. I wanted them to sign Legace, but didn't think getting Raycroft was an option. Just gotta hope that Rask doesn't turn out to be better than Pogge.