Actually, TB, the Islanders, and Ducks are all in fine shape.
Sorry to those of you who live in the Golden Horseshoe ... but Hamilton is not a good choice for a team. The Copps Coliseum is not a modern NHL rink and there is no evidence that the metro area will support a third team (look at the struggles that OHL and AHL teams have had in that region). In fact, the greater Toronto area is very fickle for teams other than the Leafs ... and a dicey business proposition for anyone. Argos, Raptors, and Blue Jays all need to be winning to have any real support. No reason to suspect that a second NHL team would be treated any different.
And, Jim Balsillie's Copps Coliseum deal is a red herring. If he moves the team to the Southern Ontario region, he'll build somewhere where he only needs to secure the agreement of one (not two) current franchises.
Winnipeg, Seattle, and Houston are heads and shoulders the best three choices. Followed by Vegas, Southern Ontario, Portland (instead of Seattle) and KC.