Thanks to this thread http://www.nbaliveforums.com/ftopic22656.php I've figured out how to edit the salary cap for NBA Live 06...
Follow the instructions from that tutorial... but instead of searching for 40 AB, the salary cap is listed as 49.5 mil so converting that to Hex makes it C15C ... so search for 5C C1 and then change it to A0 86 01 for 100 mil cap, or to what ever you want..
Props to Terry for showing us how to do it in Live 2005... i'm informing you guys you can do it for 06 (if this is illegal, then lock the topic and ban me for "stealing" his tutorial even though i gave him props)
If you guys have figured it out, then shoot me