Going back thru 2008 I think its fair for someone to question Ireland's drafting, although at worst I would say its above average, since most if not all 1st round picks were good picks. I think you can make a legitimate argument he's 5 for 5 in the first round, but at worst he's 4 for 5, which would be better than most NFL teams I would bet. I no success is not completely measured in the first round, but its an important indicator.
The real question with cap space is free agency. Looking bad to 2008 I can't see any major mistakes. Yeah we missed on acquiring some players, but we didn't really make any huge mistakes. You have to take chances and he will do that. I trust that he will not blow the money, because he has had no history of doing that. Now if he's too conservative and does not address some needs, he would probably leave plenty of cap room for a new GM in 2014. Ireland one way or another will either put us in a better spot. He will either spend wisely or leave a ton of cap space for someone else to.