Let's look at Volchenkov from a business or sports team owner's perspective and correct my facts if I'm wrong:
Signed to a contract paying him $4.25 Million/year for 3 more years
Play level has fallen to the point where younger cheaper prospects could provide similar if not better level of play
Amnesty Buyout reduces budget line-item to $1.42 Million/year for 6 years while necessitating promoting a younger player getting paid $870k for a total cost of $2.29 Million/year for the first couple years
From looking at those facts I take the Amnesty Buyout almost every time because you're actually saving real dollars (almost $2 million worth) per year for the first 3 years and by the time you're left with the back end of the 3 years you'll have to assume that things won't be as tight otherwise you wouldn't want to be in this business in the first place. This deal gives you real money now in your pocket which is more important than small money being spent down the road.