I would love to see a cap. Right now, it is the Mets, Dodgers, Yankees, Phillies, and Blue Jays and then everyone else. The only saving grace is that payroll doesn't always equate to a World Series.
If I were a player, I would target states with no income tax or lower tax rates if possible. However, you will still end up having to play in one of the high tax rate states. Florida has a higher cost of living in some ways but the lack of a state income tax offsets some of that. Texas and Nevada also have athlete-friendly taxes. So, the A's, Rangers, and Astros will also benefit a little.
It still comes down to whether or not ownership will pony up the salaries. The Rays and Marlins have not had consistent payroll bumps but the Rays at least perform well. The Rays do a great job with analytics, drafts and developing the farm system, and trading talent that is approaching a contract year.
In looking at the map, I could see what a pain it would be to get there. It is on that peninsula and no easy way for someone who is due east (across the water).