Perhaps the theoretical problem wouldn't be as much as an actual problem?
The talent pool of a no cap league shrinks up--everyone has 4mil bench players. Same for SPs. If someone tossed a guy into the pool, once everyone got saavy, I think the guy they tossed might get snapped up pretty quick, so the strategy would be thwarted. To boot, in 86, there are no 'Shea split' stadiums, so fewer teams playing with a distinctive slant would reduce the need/desire to flip FAs for match ups. Just throwing that out there.
Is the concern here strictly based on theoretical problems or is the actually occurring in some leagues so far?