Well, I've also voiced discontent about the free spending of the Red Sox, and not having enough homegrown talent. Even when there is homegrown talent, it's either traded away (Bagwell in 1990) or put on the table (catching phenom Kelly Shoppach in Boston farm system right now) as trade bait. All of this would change with a hard cap, I'd like to see more development in the minor league system, and less buying of free agents.
But also, like others have mentioned, in order to compete with NY you have to break the rules sometimes. Until Boston wins a championship, I'm not all that opposed to this method, that's how desperate Boston fans are to win! If George can take advantage of the system, why can't Henry and Theo? I'd also like to point out to you that Boston is still NOT over the soft cap, i.e. they aren't paying a single solitary dime in luxury tax (cap is around 130 million), and
didn't in 2003 either, while NY will pay around 15-25 MILLION this year alone. Also notice how the Yankees were the only team that paid a luxury tax (whopping 10 million) for 2003. Boston is close to the luxury tax limit this year with the addition of Foulkie and Schill, but I'd say they were
well worth their weight in gold. That was another reason Henry didn't want to sign ARod, he wanted to stay under the soft cap. And like others have mentioned, NY still paid about 30% more for their team (and 30% over the soft cap) so there is a huge disparity.
OP is right though, $ for $ Boston should win the World Series, they have more superstars and better talent. But when you have such a small set of games in such a short amount of time, anything can happen, unsung heroes emerge and you can pretty much throw $ out the window. Just ask teams like Anaheim and Arizona their championship years if $ meant anything...