It's hard to say at this point.
I think many guys will return to their original teams and there are going to be strange cap causalities.
But trying to be realistic and ignoring if Peyton could return into great level, this is my wish list:
At offense, we're moving into a West Coast Offense derivation, so we need a new style of catching RB and a pair of TE.
-QB: Matt Flynn & Chad Henne. Henne deserves a chance under WCO derivation and Flynn represents the guy to beat. In order to create room for this, Matt Moore could be traded. I would stay out of several Kool-Aid jars including: Peyton Manning, who might require a year or two to recover and Vince Young, who might require a life or two.
-RB: No matter if Ireland finds gold in Canada (again), I'm worried on our running backs. Reggie Bush is a brave player but not an every down horse. Bring back Ronnie Brown!
-WR: We're fine at WR, but bringing Ted Ginn Jr. back won't hurt our ST.
-OL: Demetrius Bell & Evan Mathis are my ideal prospects to repair the right side of our O-line, but surely cheaper options might emerge.
-TE: Fred Davis seems like the multi-threading piece this offense requires.
On defense, I'm not sold on the idea of returning into a full time 4-3 scheme, mostly because Karlos Dansby isn't ZT. It's incongruent that a man of such shoes looks insufficient to fill Zach's ILB role, but even when having a firm base works against no-huddle offense (often used by Patriots), it's a shame to see big play after big play in other conditions.
That said if Miami goes for a 4-3 defense we'll need new OLB and DE.
-DE: Cliff Avril won't be available as I expect he'll be franchised in the coming days. But if Detroit allows him to go without the franchise tag, he's our goal. Matt Roth could be interested in returning to a 4-3, while Adam Carriker is a cool option.
-LB: Not a great free agency at this position, but Anthony Spencer could represent an upgrade.
In case Dolphins pick a mix of 4-3 & 3-4 schemes, aside of a DE, we'll need a good NT.
-NT: Paul Soliai is my top priority but other like Aubrayo Franklin might work.
-DT: Kendall Langford should return.
Depending on what's fixed before draft day, our strategy might move in many ways. Assuming we'll focus on offense and will have a new QB, TE & RG, top priority should be RT or a pass rusher.
First round pick options:
-OT: Riley Reiff, as easy as 1st round or free agent at RT
-DE: Quinton Coples, Melvin Ingram, distinct guys same function.
-OLB: Courtney Upshaw
On 2nd round, Dolphins would be trading down some spots or going for TE, pass rusher or development passer.
Second round pick options:
-TE: Coby Fleener, just what the doctor prescribed to build a good offense
-OLB: Zach Brown
-QB: Ryan Tannehill