Yeah, that's how I prefer it to be. I want to play a franchise where I have to seriously consider cutting loose a veteran due to cap reasons. I've always grown tired of being able to sign all of my free agents and rookies and still be in a position to sign any and every free agent I desire. I've always wished EA would fix this either by lowering the salary cap number or something, so I actually enjoy reading people struggle to work the salary cap.
As far as the Pat White is concerned, IMO it's asking too much for the game to take into account how the real life Pat White's game translates to the NFL. White is a highly rated QB in NCAA 09, so him coming into Madden highly rated is understandable. This is a case where IMO people are looking for too much reality in a video game and putting too much on the developers. If you don't want White coming in as a QB, than change his position to WR and adjust his rating accordingly in NCAA 09.