CE must be the best free transfer ever. BTW I thought it rather unfair when we managed to get Garaham Rix on loan in our league 1 days when he was coming back from injury. Remember him having a great game at Putney during his spell on loan.
Not sure that picking up players from relegated teams is the best strategy. They are relegated for a reason. There was a player a few years back , Grant McCann maybe, that seemed to play for a relegated team every year!