I read it as 6 players not already at HFC will come in. Although you've got a good number on the way out, that is mitigated somewhat by the arrival of Watts and Pitts (though not part of the new 6 they may well count towards the mainly young and English).
Ellis and Arundel are 2, leaving 4 of whom L. Paea and J. Crookes seem likely to be a part. The remaining high profile player I'd guess might be an NRL half (which might account for a big chunk of cap), then maybe another young and English - perhaps a prop.
Other interpretations are possible - but if it was 6 + 2, I'm sure Pearson would have said 8. Unless he's setting up a timely boost.
Possible team:
Horne, Crookes, Arundel, Yeaman, Briscoe, Seymour, NRL 7, Lynch, Houghton, Paea, Westerman, Ellis, Watts.
Bench: Whiting, Pitts, New Prop, Heremeia (sp?).
Others: Aspinwall?, Crooks, Kent, Bowden et al.
And that's if Tickle leaves, which isn't certain.
The stress placed on young and English suggests maybe not McDonnell and Lovegrove - or at least not both. On the other hand, Heremeia isn't non-fed so there's only 3 in that team, of 5 allowed.
To me that looks pretty decent, if a bit thin - but I think you'll be far from alone in that, experience and quality seems to be becoming much more expensive and the cap isn't going up. Kids will get their chances, the weak pound and wealthy NRL achieving what the quota and non-fed rules never did.
