The above two posts are correct. However, it is my understanding that we can "draft" whatever players we want and obviously they won't count against the cap UNTIL they are signed. Our rookie pool is established after the draft because trading up and down is not completed until during the draft.
We'll be right where we need to be with the salary cap by March 12th. Once we do our drafting of players and they sign (normally right before or during training camp), we'll need to free up additional dollars by either cutting, or restructuring current players to take into account the drafted and UDFA players we've added on....if we're in jeopardy of going over (this is where having Genius Loomis is such a great asset).
I don't believe we'll have much of a "rookie pool" to draw from as we don't have a 2nd and 7th this year...not that it makes that big of a difference. If I'm wrong...I'm all ears and ready to learn more :)