As I see it, the Flames have done a good job of re-building on the fly. They've managed to drastically lower the average age of their roster from a few years ago when Feaster took over the GM job.
19-23 (4 players)
24-28 (11 players)
29-32 (5 players)
33+ (3 players)
While it's true that two of the three players in the 33+ age bracket are Iginla and Kiprusoff, they've also managed to secure some solid prospects in all positions during the last few drafts, something the team was pretty awful at during the Darryl Sutter years.
Sven Baertschi
John Gaudreau
Mark Jankowski
Michael Ferland
Markus Granlund
Ryan Howse
Max Reinhart
Patrick Sieloff
Tyler Wotherspoon
Laurent Brossoit
That's pretty much the face of the Flames in the next few years, and when you combine this with the skilled Free Agent signings this year, Dennis Wideman, Roman Cervenka and Jiri Hudler, things are looking up for the team IMO.
/homer analysis
At the very least, they should be more fun to watch this season.