Before posting this comment, I thought about this trade for a bit in comparison to the Nick Leddy trade.
Here are some key reasons why I think this is a fair trade and why I think the Nick Leddy trade was grossly unfair for Detroit.
1. Ryan Graves still has term left on his contract while Nick Leddy is a pending UFA.
2. If the Red Wings and Leddy are not able to work out an extension, the Red Wings will be left needing to make a trade yet again.
3. The Islanders was going to struggle with staying under the salary cap and Yzerman did them a huge, unselfish favour by making that struggle go away with a stroke of a pen.
4. The Red Wings spent a 2nd round pick to take on what was essentially a cap dump, even though Leddy is solid defenseman.
5. Colorado was never in any trouble with the salary cap and so, Graves should not be treated as a cap dump in this case.
6. The Devils get a solid defenceman with term and the Avs get a low 2nd + a mid-tier prospect that is capable of playing in the NHL.
I hope this clarifies things