Contracts for Wallace and Ellerbe decrease in cap value for 2015, making it easier to resign other valuable players or bring in an additional free agent or two during that offseason, barring the Dolphins going nuts again in 2014 (which I don't see as realistic).
You shouldn't be dipping into the FA market for major acquisitions every year. You will never have a TEAM if you do that (and you seriously have to question the talent evaluation process).
2014 should be about draft picks, resigning and/or extending guys and a few minor FA acquisitions. Therefore you shouldn't need huge amounts of cap space.
But freeing up some for 2015 will allow Ireland to do things like rework/extend RT's contract, or look for a FA to come in and replace him (hopefully not). And to bring in a major FA in a key spot.
IMO, Ireland is doing just about everything perfectly right now.