2nd round draft picks can sign any kind of contract they want.
Theres no limit, except if you are over the cap, you cannot sign the player for more than the MLE. Its like FA with 2nd round picks(unless you pay them the minimum).
So, Lampe could have signed a 3 year deal for the MLE. Which means, NY would hold Bird Rights on Lampe when he becomes a FA, meaning they can go over the cap to sign him. I wouldn't be surprised if this happened.
Reason: Lampe was a 2nd round pick. Most 2nd rounders receive the minimum for 2 years. NY might have said "Well, sign for 3 years, and we'll give you MLE money."
Lampe might have done that. But I doubt it. I dont see NY spending that kind of money on Lampe, when he hasn't proven anything(Hype isn't proof).
And on McDyess..........he's done for. He wont come back, I seriously doubt it. What he is, is a $13+ million relief for NY. It could be used to trade for someone, but I think NY will be content to let the contract expire, and start to reduce its bloated payroll a bit.