We use the Yahoo database for all main roster moves. This has always been the case. How can a player be added if Yahoo does not acknowledge he exists?
The closest example of this is the case of Dominik Hasek several years ago. He was not eligible to be drafted in the Waiver Draft and was not in the Yahoo database until much later. There was a scramble to sign him during "Free Agent Frenzy."
However, free agent frenzy occurs before waivers are in effect. Since the waiver rule is now in effect, every player (once added to the yahoo database) must go through waivers in order to be signed.
Radulov was exempt from this as a Prospect (and is still under contract with Nashville). If Nashville does not retain his rights once he becomes a minor leaguer he will not be roster eligible either.
Sundin and Niedermayer were exempt whereas they never left the league/database. Only listed as NA. Same as Selanne.
Being drafted is only a requirement that must be met by prospects.
Having an NHL contract must be satisfied by "new" players and minor leaguers coming into the league from a different league. This is the group Nabokov falls under, even though he previously played in the NHL. If Nabokov can be rostered so can Forsberg and Jagr. Either now or on the days after their contracts expire, but before they sign new deals with the KHL and SEL.
The countermeasure taken is the KHL rule where our league provides compensatory picks for departed players because it realizes they can not be rostered if not in the yahoo database.
Arbitrarily bending the Yahoo rules to fit our needs on this would be like deciding when a player is eligible for IR just because he is injured regardless of how he is listed on Yahoo.
Based on everything thats been discussed, the process to be followed here is, once Yahoo adds him to the Yahoo database, he will be available for GM's to sign based on waiver priority. It seems pretty straightforward to me.