In a move that was basically inevitable the Steelers released Jonathan Scott. Scott was awful last season and was projected to make 2.2 million dollars this year. The Steelers have only kept him on the roster this long because they had no other option. Once Max Starks resigned with the team that gave the Steelers the ability to let Scott go.
This move also gives more optimism for the Mike Wallace deal. I dont know if it is enough money to make sure he signs but it is money. I think if Wallace has any type of good signing bonus that it will still push the Steelers over the cap. This does open up the possibility though.
What could likely happen is the Steelers tell Wallace to come to camp and learn the offense and they will get him a contract. If Wallace shows up the team can do what they did with Troy Polamalu last season. Once they realize who will make the team they will know how much extra cap space they have and can get Wallace a contract near the end of the preseason. This could be a very young team and the cap could drop significantly once many of these young players take the spots from the aging players. It is a win win for everyone. The offense will be in tune and Wallace can get his money.