I'm not so mad in the pick itself, as I am in the sheer (non)necessity of it. We have the 29th pick - the only way we can get any lower is by winning the cup itself. I know we all think we're gonna win the cup every year, but in all honesty will likely have a higher draft position in the next two years. When Lou & Co decided to keep the pick this year, I thought it was because they had a very special or needed player in mind, or they were planning on trading up. In essence, I assumed there was a REAL reason to keep that pick. As much as I don't MIND this pick on a purely player level, I think it sucks on a strategic level. We could have easily given up this pick and been none the worse for it, especially taking into account what we may lose in the next 2 years.
Also, is it possible Lou has something up his sleeve to get out of penalty? Sure, but I think it's extremely unlikely.
Maybe Lou believes picking 29th in this draft is better than picking say 24th in the next draft. Maybe he doesn't see that kind of depth next year.