This post is written as if the Panthers trade DE Julius Peppers either before or during the 1st round of next months draft. As an example I will use the Patriots as trade partners getting the 23rd and 34th picks. I am not suggesting that this (trade) is what will happen.
There are several quality free agents out there who seem to be waiting until after the draft to see which team they want to play for. The players I think would fit well with us are DE Jason Taylor, WR Torry Holt, CB Dre Bly, and CB Ricky Manning (maybe). With the cap relief we would get from the Pep trade we could sign some of these players. Then combine that with a draft of say:
#23 - DE Michael Johnson
#34 - DT "Ziggy" Hood or CB Alphonso Smith
#59 - CB Mike Mickens or DT Ron Brace or DT Fili Moala
#93 - C Antoine Caldwell
#128 - DE Lawrence Sidbury
#163 -best available/depth
#202 - best available/depth
With the addition of DE's Jason Taylor and Michael Johnson they should help give a deeper pass rush rotation when also combined with Brayton, Charles Johnson, D Lewis and rookie DT (Hood or Moala - Brace is more of a run stopper). The veteran experience of Taylor will also help relieve some of the pressure on the rookies.