2. The cap is 3.25million (Top 25 player Squad) with the second Tier (Reserve Grade) of 300K taking it to an effective max of 3.55 million
Thats not quite correct. There is a base $3.25m salary cap for a clubs top 25 paid players. In addition there are two allowances that effectively raise the top 25 cap to $3.55m:
1. The Sponsor Servicing Allowance.
Clubs can qualify to spend up to an additional $200,000 on players if they can prove that they have raised additional cash sponsorships through players providing additional services to these sponsors.
2. The Long Serving Player or Veterans' Allowance.
This allowance has existed since the 2003 season. The allowance provides an exemption of up to $100,000 for each Club if they have a player or players that have been at their Club for ten years since they first played grade for their Club. For the Storm, Cowboys and Warriors the player must have been at the Club since its inception.
http://www.nrl.com/about/salarycap.cfm?page=5
Both these allowances, especially the first one, are usually taken by all clubs.
Next year the top 25 salary cap will rise by $50,000.
In addition to the top 25 salary cap there is a second tier salary cap for players who are not in the clubs top 25 paid players, but who play in first grade:
Previously, Clubs could only offer $500,000 in contracts to their Second Tier players regardless of whether they were fielded in the NRL.
Currently, Clubs can spend as much as they can afford on development and recruitment of future players. They are however restricted to a $300,000 Cap for Second Tier players who take part in the NRL side that year.
http://www.nrl.com/about/salarycap.cfm?page=8
This year the Roosters have already used their $300,000 second tier cap and can not use any player outside the top 25 in first grade who has not already played first grade this year.