Mrazek is too awful to even be our backup so we'd want more in that deal to take his contract.

What function is Buffalo actually serving here? Ottawa was willing to retain on Murray to move him and the cost to dump Mrazek is less than what it costs to move up those 8 picks. Why would Ottawa and Toronto include them at all?

I tried to keep it realistic from Toronto’s side, is losing 800,000 in cap and upgrading from Mrazek to Murray worth more than a 3rd?

Reportedly, Ottawa was already willing to retain some salary to go from 7 to 16.After Whatever salary they retain, Buffalo can still retain 50%, so the function would be to make him cheaper and more valuable to Toronto. Also, this keeps Ottawa from having to drop further to Toronto’s pick, only to 16 OA. On top of that, this clears Mrazek out from Toronto without Ottawa having to take him.

Except Ottawa didn't retain here. If Ottawa and Toronto made this deal without Buffalo, the Sens could retain the exact same amount as done in this trade, use the Lightning's 2nd and a C prospect to move Mrazek and keep their top 10 pick. The Sabres serve no function here. You are adding little of value and trying to move to the top 10 for it. It's an easy no for these teams.

So you’re saying Ottawa would decline this trade, even though the terms would be more favorable to them then the trade they already would have agreed to?
If they could make that trade with the Lightning’s second and a c prospect they would have done that without offering the 7OA for 16OA swap

Which, if you notice, says a lot about Toronto's interest in Murray.

I would guess Toronto wants Mrazek to go back in a Murray trade, they can’t really go with both as their goalies and hope to have competent tending.

You seem to have gotten lost somewhere along the way.